BusinessMirror April 20, 2022

PHL seen to lead regional growth this year

T Hotel Okura Manila opens The country’s pioneer lifestyle and tourism destination, Resorts World Manila (RWM), has officially welcomed premier Japanese hospitality brand, Hotel Okura Manila, to its impressive list of international hotels within the sprawling Newport City complex. The launch was led by RWM President and CEO Kingson Sian, Tourism Secretary Bernadette Romulo Puyat, Travellers International Hotel Group Inc. Chairman Kevin L. Tan, and Embassy of Japan Deputy Chief of Mission and Minister Yasushi Yamamoto (center). The grand opening of the hotel brand was celebrated by a ceremonial Kagami-biraki or Sake Barrel Breaking ceremony. Also present were (L-R) RWM Chief Gaming Officer Hakan Dagtas, Pasay City Mayor’s Chief of Staff Peter Eric Pardo, Hotel Okura Co., Ltd. President Toshihiro Ogita and Hotel Okura Manila General Manager Jan Marshall. CONTRIBUTED PHOTO

HE International Monetary Fund (IMF) believes the Philippines will lead the growth among the Association of Southeast Asian Nations (Asean) this year, amid the lingering effects of the pandemic globally.

In its World Economic Outlook (WEO) released on Tuesday night, the IMF data showed an upgrade of its Philippine growth forecast from 6.3 percent to 6.5 percent for this year. For next year, the global monetary authority projects a 6.3-percent growth for the country.

In terms of inflation, however, the same report projects the country’s growth price acceleration to be the fastest in the region for this

year and the next.

Compared to the forecasts of its Asean+5 peers, the Philippines is looking to grow the fastest for 2022, followed by Vietnam’s projected growth of 6 percent, Malaysia’s projected growth of 5.6 percent, Indonesia’s 5.4 percent, and Thailand’s 3.3 percent. The average projected growth for the economic bloc this year is at 5.3 percent.

Just last week, the Asean+3 Macroeconomic Research Office (Amro)—in their annual report the Asean+3 Regional Economic Outlook (AREO)—also forecasted a 6.5-percent growth for the Philippines for this year.

The emerging 6.5-percent projection, however, is still below the government’s target growth for

2022 which is at 7 to 9 percent.

W h i le most econom ies i n Asean+5 are expected to accelerate in growth, the Philippines’s gross domestic product (GDP) expansion is seen to slightly slow down for 2023.

Projections from the IMF WEO April 2022 showed that Philippine growth is seen to hit 6.3 percent in 2023. It is also projected to be overtaken by Vietnam as the region’s growth driver. Vietnam is seen to grow by 7.2 percent in 2023.

Despite this, the country is still above the average growth projection of the Asean+5 economies for 2023 at 5.9 percent.

Fastest inflation

However, in terms of inflation,

the country’s growth price acceleration is also projected to be the fastest in the region for both 2022 and 2023. For this year, the IMF sees the Philippines’s inflation to breach the government’s 2 to 4 percent target range and average at 4.3 percent. This is consistent with the Bangko Sentral ng Pilipinas’ (BSP) latest inflation projection.

The average inflation projection for the Asean+5 for 2022 is at 3.5 percent, with Vietnam hitting 3.8 percent, Thailand 3.5 percent, Indonesia 3.3 percent, and Malaysia at 3 percent.

For next year, the average inflation projection for the region is slightly lower at 3.2 percent. The See “Growth,” A2

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BOP BACK AT SURPLUS, HITS $495M IN JAN-MAR n

R&I affirms PHL credit ratings in pandemic

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APANESE credit watcher Rating and Investment Information Inc. (R&I) announced that it has affirmed the current ratings of the country amid the pandemic, citing the economy’s strong growth amid the wave of new Covid-19 cases earlier this year.

In a statement, R&I said it has affirmed the Foreign Currency Issuer Rating at BBB+, with a stable outlook. BBB+ is two notches higher than the minimum investment

grade. A stable outlook on a credit rating means that it is not expected to be upgraded or downgraded anytime soon barring unforeseen circumstances in the economy.

“The Philippines economy has been demonstrating solid growth since the second quarter of 2021 despite the new wave of Covid-19 infections. The government debt ratio is expected to stabilize in the See “Credit,” A2

COOL RETREAT A woman walks through rows of coconut trees at Barangay Talaungan West, Cavinti, Laguna, in the Sierra Madre mountain range. It is home to the Pagsanjan Falls, which is locally known as Cavinti Falls. NONIE REYES

By Bianca Cuaresma

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@BcuaresmaBM

HE country’s transactions with the rest of the world reverted to a surplus in the first quarter of the year, after a positive performance in March, the Bangko Sentral ng Pilipinas (BSP) reported.

DTI TO U.S.: ACCEPT PHL PINEAPPLES

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HE Department of Trade and Industry is urging Washington to allow the export of pineapples to mainland America.

The Philippines’s interest in exporting pineapples to mainland US was just one of the issues tackled during a landmark bilateral meeting between Trade Secretary Ramon Lopez and United States Trade Representative

(USTR) Katherine Tai. In relation to this, Lopez confirmed the acceptability of the mitigating measures proposed by the US Animal and Plant Health Service (APHIS) for the entry of Philippine pineapples.

The Philippines is the world’s second-largest exporter of fresh pineapples in 2019, with total See “DTI,” A2

Continued on A2

PESO exchange rates n US 52.2310 n japan 0.4110 n UK 67.9891 n HK 6.6613 n CHINA 8.2039 n singapore 38.3431 n australia 38.4002 n EU 56.3102 n SAUDI arabia 13.9286 Source: BSP (19 April 2022)

A2

Wednesday, April 20, 2022

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State infra spending down 16.3% to ₧90B; timing of payables cited

By Bernadette D. Nicolas

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of the Department of Agriculture, infrastructure projects of the Department of Public Works and Highways, foreign-funded rail transport projects of the Department of Transportation, and releases for the Revised AFP Modernization Program under the Department of National Defense.

The drop in government infrastructure spending during the period also partly tempered the expansion of other expenditure items, such as combined allotment and capital transfers to local government units given the first year of implementation of the Supreme Court’s decision on the Mandanas-Garcia petitions.

Given these, overall government spending during the period inched up by 1.5 percent to P619.7 billion from P610.3 billion.

Other growth drivers to overall government spending include personnel services and interest payments.

While the DBM sees improvement i n overa l l gover nment spending in March this year given that agencies are likely to utilize their remaining cash allocations before they lapse, it said the 45-

day public spending ban for infrastructure projects will likely result in “muted disbursements” for the second quarter of the year.

Nonetheless, it pointed out that the Commission on Elections granted the petition of some agencies for their respective programs to be exempted from the ban, including the fuel subsidy program of the Land Transportation Franchising and Regulatory Board.

For this year, the government has programmed to increase its spending on infrastructure to P1.27 trillion, equivalent to 5.9 percent of the country’s GDP. Last year, state infrastructure spending reached P895.1 billion, surging by 31.3 percent from P681.5 billion in 2020 due to lower base effects and easing of quarantine restrictions.

percent, Thailand’s 2.8 percent and Malaysia’s 2.4 percent.

For the rest of the world, however, global economic prospects have worsened due to Russia’s invasion of Ukraine.

“Beyond the immediate humanitarian impacts, the war will

severely set back the global recovery, slowing growth and increasing inflation even further. This report projects global growth at 3.6 percent in 2022 and 2023—0.8 and 0.2 percentage points lower than in the January forecast, respectively.

The downgrade largely reflects the

war’s direct impacts on Russia and Ukraine and global spillovers,” the IMF said. Bianca Cuaresma

@BNicolasBM

TATE infrastructure spending as of end-February dropped by 16.3 percent to P90 billion, according to the Department of Budget and Management (DBM).

Latest data from the DBM showed the double-digit decline in government infrastructure spending from P107.4 billion in the same period last year.

The DBM attributed the decline to the timing of payables for projects of different departments.

These include completed projects

Growth. . .

Continued from A1

Philippines’s inflation is still projected to be the highest for 2023 at 3.7 percent, followed by Indonesia’s 3.3 percent, Vietnam’s 3.2

DTI. . .

Continued from A1

shipments of over 600,000 metric tons (MT), according to the United Nations Food and Agriculture Organization (FAO).

In fact, The Philippines had already been eyeing to export more pineapples to US since 2021.

Almost a year ago, the Department of Agriculture said Washington has accepted the evidence submitted by Manila which proves that the Smooth Cayenne pineapple—the Philippines’ main export variety—is not a host to the oriental fruit fly.

Agriculture Secretary William D. Dar emphasized last year that “Expanding the export market of Philippine pineapples and mangoes in the US and other countries will not only enhance our national economy, but more importantly, provide increased incomes to thousands of farmers and their families in pineapple-and mango-producing provinces nationwide.”

Both Trade chiefs intend to discuss further on the next steps to be taken.

Meanwhile, Secretary Lopez also expressed interest in the processing and packaging of Alaskan seafood.

“The Philippines would be a good choice for processing and production of seafood from Alaska for re-export,” Lopez said.

He added that “the Philippines has extensive experience and competitive edge in terms of processing and toll packing, as exemplified by our engagement with the EU.” Both Lopez and Ambassador Tai concurred on the shared objective of deepening and progressing the bilateral partnership between the Philippines and the US. Sec. Lopez was joined by DTI Undersecretary for Industry Development and Trade Policy Group (DTI-IDTPG) Ceferino Rodolfo, Commercial Counselor Kenneth Yap, and Consul Commercial Benedict Uy. Andrea E. San Juan

www.businessmirror.com.ph

Credit. . .

Continued from A1

near-term in tandem with the country’s economic recovery,” R&I said.

“While the current account deficit will likely stay slightly elevated, the country’s dependence on external debt remains limited, backed by robust foreign direct investments. Moreover, the banking sector remains stable,” it added.

The Philippine economy grew by 5.7 percent last year, reversing the previous year’s recession. The country’s debt level, meanwhile, is 60.5 percent (debt-to-gross domestic product ratio) as of end-2021.

R&I also said that while the country’s current account surplus has turned into deficit in 2021, it “will not take a negative view of the current account deficit, given that increased imports stemming from infrastructure investment will lead to economic growth in the future.” The credit watcher said the deficit will likely widen further “transitorily” due partly to soaring crude oil prices.

Economic managers have welcomed the affirmation of the investment grade rating on Tuesday.

Finance Secretary Carlos G. Dominguez welcomed the latest assessment, saying the affirmation amid the pandemic is “testament to our ability to strike a careful balance between supporting economic recovery, such as through relief for vulnerable sectors and infrastructure investments, and maintaining order in our fiscal house.”

“We are committed to achieving full economic recovery within the soonest possible time, while mindful of staying within the boundaries of fiscal discipline, so that the debt burden from the Covid-19 crisis is not passed on to future generations,” the country’s finance chief added.

“R&I’s affirmation, in our view, reflects confidence in the country’s sound policy framework, which augurs well for the next administration to pursue further structural reforms that are necessary to sustaining high and inclusive growth,” he added.

Coordinated approach

Meanwhile, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the coordinated approach to recovery— with the central bank’s monetary measures complementing the national government’s fiscal response—has worked well for the economy.

“On top of the national government’s measures, the BSP’s proactive Covid-19 response—including historic-low policy rates that supported credit activities, time-bound financing support to the national government, and a long list of regulatory relief measures for banks so that they may continue serving their customers—has helped achieve a holistic approach to Philippine economic recovery,” Diokno said.

Despite the affirmation, R&I said it is watching several developments in the country and how it would affect the economy—particularly on the elections and on inflation.

“With the presidential and general elections taking place in May 2022, a new president will assume office at the end of June and subsequently, a new policy framework is expected to be announced in around two months. R&I will keep an eye on the new administration’s policies, particularly on continuing key infrastructure projects and structural reforms, which are deemed essential in attracting investments from both domestic and external sources,” R&I said.

The credit watcher said it is closely watching the BSP’s moves in the second half of the year, whether a stable financing environment is maintained in the country, and whether the country can enhance its resource allocation efficiency and productivity in the medium to long-term by capitalizing on these reforms. Bianca Cuaresma

Bop back at surplus, hits $495M in Jan-Mar Continued from A1

The Balance of Payments (BOP) in January to March hit a $495- million surplus, despite two consecutive months of deficit early on in the year.

The BOP is usually considered an important economic indicator in an economy, as it shows the level of earnings or expenses of the Philippines with its transactions with the world. A surplus means that the country had more dollar earnings than its dollar expenditures during the period.

The development came after the $754-million surplus recorded in March more than offset the deficits in January and February at $102 million and $157 million, respectively.

The BSP attributed the March BOP surplus to inflows arising mainly from the National Government’s (NG) net

foreign currency deposits with the BSP and BSP’s income from its investments abroad.

For the first three months of the year, meanwhile, the cumulative BOP surplus reflected inflows such as from personal remittances, net foreign borrowings by the NG, and foreign direct and portfolio investments, the BSP said.

In March 2021, the country’s BOP deficit hit $73 billion. Its first quarter deficit, meanwhile, hit $2.844 billion last year.

Earlier, Rizal Commercial Banking Corporation (RCBC) economist Michael Ricafort said the country’s BOP data could still improve in the coming months, in view of the expected increase in remittances and proceeds from the successful fundraising activities of the government.

Recently, the ASEAN+3 Macroeconomic Research Office (AMRO) also said continued dollar inflows from BPO receipts will help the country’s balance of payments (BOP) position.

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Salceda criticizes DOJ’s ‘dilly-dallying’ in prosecution of agri smuggling cases

By Jovee Marie N. Dela Cruz @joveemarie

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HE chairman of the House Committee on Ways and Means on Tuesday urged the Department of Justice (DOJ) to utilize the National Bureau of Investigation (NBI) to prosecute cases against large-scale agricultural smuggling.

Albay Rep. Joey Salceda issued the statement during the regular panel meeting, adding that Republic Act No. 10845, or the Anti-Agricultural Smuggling Act, designates largescale agricultural smuggling as “economic sabotage.”

“Large scale agricultural smuggling is the single gravest sin to Philippine society today. I am disappointed in the Department of Justice that it does not use the efforts of the NBI enough,” Salceda said, in response to an answer from the department that it merely uses its own initiative to pursue cases from the Bureau of Customs (BOC).

“I am the father of the National Prosecutor Service, having been the first Budget Chairman to provide its needed financial requirements during the time of PGMA [former president Gloria Macapagal-Arroyo]. I am disappointed that those resources are not being optimized to pursue these cases,” Salceda pointed out.

“Leaving the prosecutors to figure out these cases based on the facts from the BOC is a rather simplistic approach to this. I am making this statement that the NBI should be more involved in pursuing cases against these smugglers,” Salceda added.

In the same hearing, BOC Commissioner Rey Leonardo Guerrero reported that from 2019 to April 2022, the BOC was able to complete 546 seizure operations, which in total has an estimated value of P2 billion.

Guerrero said the BOC is continu-

ously implementing anti-smuggling programs, including automation of BOC processes, acquisition of modern high-speed scanning equipment, supervision of all scanning and inspection activities, and joint operations with other concerned agencies for seizure operations.

He said these initiatives aim to help address port congestion, improve the efficiency of the agency’s alert system, and increase revenue collection.

Jurisdiction issues

MEANWHILE, Salceda stressed that there are issues of jurisdiction with the prosecution of cases of agricultural smuggling.

“The implementing agency of the law is unfortunately the Bureau of Customs, so there appears to be an issue of clarity about who should take the lead in pursuing these cases,” Salceda said, in response to a query from the committee’s Vice Chairperson Sharon Garin about the jurisdiction of the DOJ over cases of agricultural smuggling as economic sabotage.

Salceda also cited that the mandate of the Criminal Investigation and Detention Group (CIDG), under the Philippine National Police, also includes “monitoring, investigation and prosecution of all crimes involving economic sabotage.”

“I think we need to clear that up.

It appears that RA 10845 will fall under the jurisdiction of this committee as well,” Salceda added.

Salceda said he is also mulling over amendments to the Special Safeguards Law, such that regardless of whether imported goods are smuggled or not, the safeguards will apply.

“All income regardless of legality of source is taxable, because all of it is income regardless. All trade, whether legal or smuggled, should also be considered trade volume regardless, so that we can also protect the local agricultural sector,” he said.

SC upholds ex-OMB chief Ricketts’s graft conviction

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HE Supreme Court (SC) has junked the petition filed by actor and former Optical Media Board (OMB) chairman and chief executive officer Ronald “Ronnie” Ricketts seeking the dismissal of the graft charges filed against him on the ground of insufficiency of evidence.

In a 14-page resolution released to the public on Tuesday, the Court’s First Division affirmed the ruling issued by the Sandiganbayan’s Fourth Division denying Ricketts’s motion to Leave of Court to file Demurrer to Evidence.

Ricketts argued that the prosecution’s evidence was insufficient to support his conviction because none of the prosecution witnesses were able to positively identify him as the one responsible for the removal of the pirated materials from the OMB premises.

Based on the records of the case, Ricketts instructed a team of OMB agents to raid and seize 127 boxes and two sacks of pirated DVDs and VCDs as well as one video recording unit at an establishment along Carlos Palanca Street in Quiapo, Manila, on May 27, 2010.

Three Chinese nationals were also arrested during the said operation.

The confiscated materials were brought to the OMB office, but later, and purportedly upon the instruction of Ricketts, 121 of the 127 boxes of the pirated materials were hauled out of the OMB premises and loaded into an Isuzu truck marked “Sky High Marketing.”

No charges were filed by the OMB against any person or entity after the incident.

On July 18, 2019, the Field Investigation Office (FIO) of the Office of the Ombudsman filed a complaint before the Sandiganbayan against Ricketts and four other OMB officials for allegedly giving

unwarranted benefit, advantage or preference to Sky High Marketing Corporation, through manifest partiality, evident bad faith or gross inexcusable negligence, by allowing and causing the release and reloading into the corporation’s vehicle the paraphernalia confiscated from the same establishment.

Ricketts argued that it is the Board, and the agents or investigators of the Legal Department of the OMB, who are duty-bound to initiate the filing of the criminal and administrative cases, and that there is no proof that he conspired with his co-accused to commit the offense charged.

In denying Ricketts’s demurrer to evidence, the Sandiganbayan held that the totality of the evidenced presented by the prosecution is prima facie sufficient to sustain a conviction for violation of Section 3 (e) of Republic Act 3019 or the Anti-Graft and Corrupt Practices Act. It stressed that the prosecution’s evidence exposed not only the commission of the offense, but also the precise degree of participation of Ricketts and his co-accused in the commission of the crime.

The Sandiganbayan added that the prosecution’s evidence, if unrebutted, is enough to support a finding of guilt beyond reasonable doubt.

Thus, the anti-graft court, advised Ricketts to present his counter evidence. Ricketts’s elevated the case before the SC, seeking the reversal of the Sandiganbayan’s decision on the ground of grave abuse of discretion amounting to lack or excess of jurisdiction.

In dismissing the petition, the Court ruled that Ricketts’s failed to substantiate its claim that the Sandiganbayan gravely abused its discretion or acted beyond its jurisdiction in denying his motion and the demurrer itself. Joel R. San Juan

Editor: Vittorio V. Vitug • Wednesday, April 20, 2022 A3

Five hurt as gunmen fire shots at ‘Ka’ Leody’s group in Bukidnon

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By Rene Acosta @reneacostaBM & Samuel P. Medenilla @sam_medenilla

T least five persons were reported wounded while presidential candidate and labor leader Ka Leody de Guzman escaped unscathed after his group was fired upon by still unknown gunmen while holding a meeting with members of the Manobo tribe in Quezon, Bukidnon, on Tuesday.

The incident, which the Philippine National Police (PNP) said is still being investigated, was confirmed both by de Guzman in tweets and by his party, the Partido Lakas ng Masa, in a news statement.

De Guzman said he and his group, which included two Partido Lakas ng Masa senatorial candidates Roy Cabonegro and David D’Angelo, were holding a meeting with Manobo-Pulangiyon tribe at Barangay Butong in Quezon when several shots were heard.

While the left-leaning presidential candidate, who is running on a pro-poor agenda, was not hurt along with his party’s two senatorial bets, the person beside him along with another individual were hit and were

rushed to the hospital.

De Guzman identified two of the individuals beside him who sustained a gunshot wounds as Nanie Abela, a farmer’s group organizer.

The other victim, he said was a leader of the Manobo-Pulangiyon tribe.

“Ang tinamaan ay ang nasa tabi ko, si Nanie Abela, na organizer ng mga magsasaka sa Mindanao. Casualty rin ang isang lider ng tribong ManoboPulangiyon,” he said in a tweet.

The site of the meeting between de Guzman’s group and the Manobo tribe forms part of ancestral land of the Manobos.

“Salamat sa mga nag-alala. Ako po at sila kasamang Roy Cabonegro at David D’Angelo ay ligtas,” de Guzman said.

De Guzman’s political party said in a statement that several others were also injured.

The PNP through its Public Information Office chief, Brig. Roderick Augustus Balba, said they were still gathering the complete details of the incident.

Dastardly act–Palace

MALACAÑANG on Tuesday called for the immediate investigation on the shooting incident during the campaign sortie of presidential Ka Leody de Guzman in Bukidnon last Tuesday.

In a brief statement, Acting Presidential spokesman Martin Andanar condemned the incident, which injured at least 5 people.

“We urge the local authorities to conduct a thorough investigation and prosecute those behind this dastardly act,” Andanar said.

“Violence has no place in any civilized society and we condemn the incident in Bukidnon where gunshots were allegedly fired against the camp of Ka Leody de Guzman,” he added.

The Commission on Elections (Comelec), for its part, expressed concern over the incident and is also now looking into it.

“If this is an election-related incident, count the Comelec in to use all our powers to get to the bottom of this and hold accountable the culprits and face the full force of the law,” Comelec Commissioner George M. Garcia said.

While the probe is ongoing, Comelec Chairman Saidamen B. Pangarungan said they are ready to provide additional security detail to De Guzman and all the other presidential and vice presidential candidates upon their request.

Land grabbing issue

AT a virtual press conference, De Guzman noted the incident may have involved the complaint of the Manobo-Pulangiyon tribe on the alleged land-grabbing in their ancestral domain.

But he did not rule out if he was a target in the said attack since his companion, who was sitting near him was hit during the incident.

De Guzman’s group called on authorities to safeguard the members of the tribes, which it claimed may still be at risk from further attacks.

Labor groups also condemned the incident, which endangered the lives of de Guzman, who is also a labor leader, and the indigenous people (IP).

“The authorities need to speedily investigate this incident without fear or favor and bring those responsible to the bar of justice,” Federation of Free Workers (FFW) President Sonny Matula said.

The Sentro ng mga Nagkakaisa at mga Progresibong Manggagawa (Sentro) also called for a swift investigation into the incident, including the alleged land grabbing in the ancestral land of the Manobo tribe.

NPS exec confirms USTR raises concern on proliferation of fake transfer of alleged goods for sale at Greenhills Shopping Center drug lord Espinosa to Taguig City jail

By Andrea San Juan

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HE Department of Justice (DOJ) on Tuesday confirmed the transfer to a regular jail of self-confessed drug lord Kerwin Espinosa following his attempt to escape from the National Bureau of Investigation’s (NBI) detention center last February.

DOJ-National Prosecution Service (NPS) Prosecutor General Benedicto Malcontento told reporters that Espinosa is now under the custody of the Bureau of Jail Management and Penology (BJMP) in Taguig City.

Prior to his transfer, Malcontento said the DOJ-NPS has filed motions before the trial courts where Espinosa still has drug-related pending cases informing and seeking permission for his transfer to a BJMP facility.

Espinosa is still facing trial for drug cases before the trial courts in Manila and in Albuera, Leyte.

He also is facing trial for other cases such as illegal possession of firearms and explosives and violation of the Anti-Money Laundering law.

“In fact, he has already been transferred to Taguig [BJMP],” Malcontento said.

It was earlier reported that DOJ Secretary Menardo Guevarra had signed Espinosa’s Notice of Termination from the DOJ’s Witness Protection, Security and Benefits Program (WPSBP) due to his numerous infractions, including his attempt to escape from the NBI facility last January.

Guevarra, however, did not confirm Espinosa’s supposed removal from the WPSBP, saying that WPP matters are “highly confidential.”

Aside from trying to escape, Espinosa also allegedly harassed other inmates, engaged in smuggling activities, drank liquor, extracted money from other inmates, violated the curfew hours and roamed around the cells of other inmates, and was caught in possession of prohibited items such as mobile phones and bladed weapons while detained at the NBI. Joel R. San Juan

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HE United States Trade Representative (USTR) has raised concerns over the continued inclusion of Manila’s Greenhills Shopping Center on the Notorious Markets List.

“US right holders report issues with increasing online piracy, counterfeit drugs, and counterfeit apparel. Such counterfeiting and piracy concerns led to the continued inclusion of Manila’s Greenhills Shopping Center on the 2021 Notorious Markets List,” the report read.

“While the Philippines has made progress in intellectual property [IP] protection and enforcement since its removal from the Watch List under Special 301 in 2014, the US continues to have concerns,” it added.

Early this month, the 15-member National Committee on Intellectual Property Rights (NCIPR) under the Intellectual Property Office of the Philippines (IPOPHL) spearheaded the seizure of P63 million worth of suspected counterfeit

goods at the Greenhills Shopping Center in San Juan City.

NCIPR, a member of National Bureau of Investigation (NBI), was able to seize 755 pieces of fake Louis Vuitton products at the popular shopping center.

The shopping center is the lone market in the country to be included on the Notorious List.

Following the raid, IPOPHL Deputy Director General Teodoro C. Pascua has stressed that Greenhills’ reputation as a go-to for fake goods will taint our country’s reputation, eventually affecting our economic interests in the US and other trading partners that highly value IP protection.

In relation to this, US stakeholders have also expressed concern regarding “ineffective IP enforcement, including a lack of capacity and expertise, and slow prosecution and conviction of cases.”

In a news statement released last Monday, the Department of Trade and Industry (DTI) has highlighted the importance of intellectual property

Duterte OKs bill for creation of multi-specialty hospital for Southern Luzon patients

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RESIDENT Duterte has signed into a law a measure seeking to decongest Metro Manila hospitals by establishing the Southern Luzon Multi-Specialty Medical Center, the chairperson of the House Committee on Health said on Tuesday.

Panel chairman and Quezon Rep. Angelina “Helen” Tan said the President signed last Monday Republic Act 11702 for the creation of a specialty hospital that will cater to the medical needs of patients from Southern Luzon.

“The construction of the hospital is a big help because patients from Southern Tagalog will no longer go to Manila for immediate medical attention and treatment,” Tan said.

The Southern Luzon Multi-Specialty Medical Center will be located in Tayabas, Quezon.

The law seeks to help patients from Southern Luzon seeking medical assistance from Metro Manila’s multi-specialty hospitals, including Philippine Heart Center, National Kidney and Transplant Institute and Lung Center of the Philippines. Jovee Marie N. Dela Cruz

provisions in free trade agreements.

DTI Assistant Secretary Allan B. Gepty has stressed the significance of intellectual property as a policy tool that can be used to promote creativity while balancing it with the rights of IP owners in relation to the general welfare of the public.

In case the Senate ratifies the Regional Comprehensive Economic Partnership (RCEP) agreement in May this year, the chapter on IP will be one of the most extensive chapters in the landmark free trade agreement.

In relation to barriers to digital trade, the USTR has expressed concerns about the proposed Internet Transaction Act, which was introduced in June 2020 and still pending full congressional approval in the Philippines as of March 2022.

The said act aims to promote electronic commerce, consumer protection, and equal treatment of resident and non-resident online platforms, and which would require platforms and online businesses selling to customers in the Philippines to register in the Philippines.

A4 Wednesday, April 20, 2022 • Editor: Vittorio V. Vitug

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PHL emerges as top travel destination in SEA in Q1

By Cai U. Ordinario

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@caiordinario

HE Philippines has emerged as a top travel destination country in Southeast Asia (SEA) after the national government moved to reopen its borders to tourists ahead of other countries in the region.

Data from UK-based technology firm, Travelport, showed that in the first quarter

of 2022, the Philippines and Thailand account for over half or 51 percent of all international flight bookings to Southeast Asia.

The top 10 travel destinations in the region included Manila as well as Angeles and Mabalacat in Pampanga. Manila was ranked first while Angeles and Mabalacat were ranked 10th.

“For the first quarter of 2022, interna-

tional flight bookings to Southeast Asia overall have increased and have shown an upward trajectory with the Philippines taking the lead by achieving 42 percent of its international bookings in the first quarter of 2019 prior Covid-19 pandemic,” Travelport said.

“The Philippines and Thailand were among the earliest countries in Southeast Asia to re-

open their borders, and travelers are already clamoring to visit,” it added.

The Philippines announced on January 28 that it planned to fully reopen to vaccinated travelers on February 10. This, Travelport said, saw a rapid increase in flight bookings to the archipelago.

Within a week of the announcement, Travelport said international flight bookings to the Philippines rose by 114 percent.

Further, Travelport said, months after the announcement on February 28, the country saw a 294-percent increase in daily flight bookings.

Other top destinations in the region were Singapore; Bangkok, Thailand; Ho Chi Minh City, Vietnam; Jakarta, Indonesia; Kuala Lumpur, Malaysia; Hanoi, Vietnam; Phuket, Thailand; and Bali, Indonesia.

“All countries in Southeast Asia, with the exception of Brunei, have started to remove

their travel restrictions and are reopening their borders to international tourists in hopes of rejuvenating the industry that was hardest hit by the Covid-19 pandemic: tourism,” Travelport said.

The latest data, the company said, showed how the easing of restrictions has affected the international demand for travel to Southeast Asia.

Travelport powers bookings for thousands of travel suppliers worldwide. Buyers and sellers of travel are connected by the company’s next generation marketplace, Travelport+, which simplifies how brands connect, upgrades how travel is sold, and enables modern digital retailing.

Headquartered in the United Kingdom and operating in more than 180 countries around the world, Travelport is focused on driving innovation that simplifies the complex travel ecosystem.

‘Agaton’ farm damage reaches ₧1.4 billion

By Jasper Emmanuel Y. Arcalas @jearcalas

T

HE estimated agricultural damage and losses caused by Typhoon “Agaton” (international code name Megi) has now doubled to P1.4 billion with over 35,000 metric tons (MT) of produce affected across five regions, the Department of Agriculture (DA) said Tuesday.

In its latest damage report, the DA said the typhoon damaged 35,258 MT of rice, corn, high value crops, livestock and fisheries across 17,384 hectares of agricultural areas.

The DA added that 23,188 farmers and fisherfolk in regions of Western Visayas, Eastern Visayas, Zamboanga Peninsula, Soccsksargen and Caraga lost income due to Agaton.

“These values are subject to validation. The increase in overall damage and losses is due to additional reports on fisheries in Western Visayas,” the DA said in its report issued on Tuesday morning.

Based on DA’s latest report, the fisheries sector has now recorded the majority of the total estimated agricultural damage and losses, surpassing the rice sector.

Agaton’s damage to the fisheries sector, which accounted for 53.97 percent of total losses, is now estimated at P763.3 million

with 2,234 fisherfolk affected.

The DA said the damage to the rice sector is now valued at P595.6 million with 33,501 MT of produce across 16,752 hectares of farms affected.

The DA added that the high value crops (HVC) sector has reported P30 million worth of losses with 866 MT of vegetables, cacao, and fruits from 215 hectares damaged. The damage to the corn sector is now estimated at P21.4 million with a volume loss of 891 MT. The damage to the livestock and poultry sectors has now reached P7.2 million with 12,771 heads of chicken, swine, carabao, duck and goat affected by Agaton, according to the DA report.

The DA said at least P662.5 million worth of assistance will be provided to the affected farmers and fisherfolk, which include a P500-million Quick Response Fund (QRF) to rehabilitate typhoon-affected areas.

The DA said the Agricultural Credit and Policy Council (ACPC) for Western Visayas has allocated P100 million under its Survival and Recovery Assistance Program.

The DA added that P42.07 million worth of rice seeds, P16.76 million worth of corn seeds, P3.61 million worth of assorted vegetables and P40,000 worth of animal stocks, drugs and biologics will be distributed by the department as assistance.

Sarangani ARBs to receive aid from DAR and partners

T

HE Department of Agrarian Reform (DAR) will partner with the Land Bank of the Philippines (LandBank) General Santos Lending Center, and the Philippine Crop Insurance Corporation (PCIC) to provide financial assistance to agrarian reform beneficiaries (ARBs) in Sarangani Province.

The financial assistance will be a big boost to farmers as it will provide them capital to do business, enabling them to cultivate corn and other crops without the hassle of paying a high interest rate for their loan credit.

The DAR assured the would-be beneficiaries of a low-interest rate of 5 percent per year.

LandBank Administrative Officer Prexy Almocera said 22 ARBs from the town of Maasim who applied for loans were approved under the Accessible Funds for Delivery to ARBs (AFFORD ARBs), a lending program of the DAR, LandBank and PCIC intended for the ARBs to finance the production of their rice, corn, and high-value crops, as well as the acquisition of small farm implements.

After successfully conducting the loan signing ceremony, a financial literacy training was conducted where Almocera explained the purpose of AFFORD ARBs, which is to increase the income of the farmers at low interest rates.

“We provided them with sample computations to ensure that all the applicants can compute and understand the loans they are applying for,” she said.

Almocera emphasized that only applicants with good repayment standing could avail of the renewal of the loan.

She added that the application for PCIC was also discussed to provide insurance protection to farmers against losses arising from natural calamities, plant diseases, and pest infestations of their crops. This is part of the pre-release requirements before the loan can be downloaded to the farmers’ bank account. Almocera said that the ARBs with approved loan applications were very eager and excited since it is already planting season. Jonathan L. Mayuga

TUCP seeks ₧400 minimum wage increase for Central Luzon workers

T

HE country’s largest labor group is pushing for a P400 minimum wage increase for Central Luzon workers.

Last Tuesday, the Trade Union Congress of the Philippines (TUCP) filed a wage petition before the Regional Wages and Productivity Board-Region 3 to grant the said increase.

If granted by the wage board, TUCP President Raymond C. Mendoza said the petition would allow minimum wage earners in Central

Luzon to cope with the rising cost of living.

Currently, they said, the prevailing minimum wage rate in the region, which ranges from P304 to P420, is too small to allow them to afford the “skyrocketing prices of foods and commodities.”

TUCP said the lack of minimum wage adjustment in Central Luzon in the last three years left the workers in the region to allocate only “P15 per meal” for each of their family members. Samuel P. Medenilla

News BusinessMirror

www.businessmirror.com.ph

CSC outlines employment options for EO 138 devolution ‘casualties’

By Samuel P. Medenilla @sam_medenilla

R

EGULAR government workers who may be affected by the looming devolution of more government functions under Executive Order (EO) No. 138 will not face immediate permanent jobs loss, according to the Civil Service Commission (CSC).

In a news statement issued on Tuesday, the CSC assured that affected workers would be given the chance to have their position “transferred” within their current agency or from another agency within the Executive Branch.

“Upon transfer, the position shall be considered ‘coterminous with the incumbent,’ meaning it will be abolished once the incumbent employee is reappointed or promoted to another position, transfers, retires, resigns, or is separated from the service,” CSC said.

Reemployment ban

THE affected employees, however, may opt to retire or be separated from the service allowing them to get their separation incentives if they are eligible for such.

Those who will avail of the said options will not be able to be reemployed in the Executive Branch for at least five years or they will be required to refund their separation benefit.

The five-year ban will not apply if the concerned workers will teach in a educational institution, become a medical staff in a hospital, or be reemployed in other branches of the government including the legislature, judiciary, constitutional bodies, and in the local government units (LGU).

If the status of the affected government worker is temporary, casual, contractual, coterminous, or fixed term, they may apply for new vacant positions in other government agencies.

The said policy is contained in CSC Resolution 2200162 or the guidelines for government employees affected

by EO 138, series of 2021.

Ongoing devolution

EO 138 is part of the government’s preparation for the “devolution” of certain functions of the Executive Branch to the LGUs after the Supreme Court issued is Mandanas ruling, which declared the internal revenue allotment (IRA) of LGUs should be based on the collections of national taxes, except those accruing to special purpose funds and special allotments.

The ruling will significantly increase the available funds of LGUs, which prompted the national government to devolve some of its functions.

Under EO 138, national government agencies and LGUs, which will be affected by the devolution, must submit a Devolution Transition Plan (DTP) to the Department of Budget and Management (DBM) for approval.

As of April 4, 2022, CSC Commissioner Aileen A. Lizada said the DBM has approved the DTP of the Department of Health (DOH).

“The DTPs will be implemented in phases from 2022 to 2025,” Lizada told BusinessMirror in a Viber message.

During the four-year period, she said, LGUs will undergo capacity building to help them perform the devolved functions of the national government agencies.

Comelec assures senators cyber security in place for May polls

By Butch Fernandez

C

hacker was not acting alone and had conspirator, said to be a former contractual employee of Smartmatic, in hacking its data server.

Senators were told that Smartmatic, a software provider of Comelec, also rents and repairs vote counting machines used by Comelec.

At the hearing, Atty. Victor Lorenzo, head of the NBI Cybercrime Division, said it was likely that the former employee of Smartmatic, Ricardo Argana, was not acting alone, noting he was “not too fluent in English” and it was unlikely that only one man can register the 726 log in or enter the data server of Smartmatic done

within only six days.

The NBI also presented to the Senate a timeline of their investigation into the alleged data breach or hacking at Smartmatic. In his presentation Atty. Lorenzo recalled that when Argana was offered free training modules in exchange for connecting to a third party or a line to the server of Smartmatic.

When they talked with the NBI, Argana purportedly promised P50,000 to P300,000 from a third person.

It was reported that the NBI already lodged a case against Argana for “illegal access and data interference” before the fiscal’s office in

Taguig. It was reported Argana was engaged by Smartmatic in August 2021 as quality assurance staff assigned at the Comelec warehouse last November 2021 to test the automated election system.

In December 28,2021 up to January 2, Smartmatic detected “unusual traffic” and downloads in their computer system traced to Argana who brought home the company laptop.

Meanwhile, they also noted other persons of interest monitored by the NBI based on Facebook posts, indicating a pattern similar to the hacking of the Comelec server in 2016 branded as “Come-Leak.”

DepEd releases proposed school calendar for school year ‘22-‘23

T

HE Department of Education (DepEd) on Tuesday presented the proposed school calendar for School Year (SY) 2022-2023 which has 205 school days.

In his presentation during an online news conference, Education Undersecretary Diosdado San Antonio said that 11 weeks are allotted for every quarter of the SY—the first quarter is set from August 22 to November 4, 2022, the second quarter from November 7, 2022 to February 3, 2023, the third quarter from February 13 to April 28, 2023, and the fourth quarter from May 2 to July 7, 2023.

The Christmas break will start on December 19, 2022 and classes will resume on January 2, 2023.

A mid-year break is also sched-

continued from a14

Health, safety rules to be enforced

ACCOR DING to the W T TC, Mar r iot’s Grand Ba l lroom w il l be used as the summit’s main auditor ium and can host up to 3,696 delegates. However, organizers have planned space w ith socia l distancing to host up to 650 seated g uests. “ W here possible, socia l events w il l ta ke place in outside venues, but indoor venues w il l limit standing receptions and include physica l distancing,” said the W T TC. Should some delegates test positive for Covid-19, they will have to quarantine at their hotel rooms, “but we have prepositioned hotels as quarantine facilities in case they need to transfer,” said Tugbang, who is also DOT’s Director for Health and Wellness. Organizers have tied up with the Bureau of Quarantine for technical assistance to ensure the Covid-positive guest follows quarantine procedures.

Isolation periods will vary depending on the gravity of symptoms. Ma. Stella F. Arnaldo

PHL envoy to China Chito Sta. Romana dies in quarantine continued from a14

This is the third time a Philippine ambassador to Beijing suffered critical illness while in office. The first was Sonia Brady, who suffered a stroke in 2012 and the other is Erlinda Basilio, who also suffered a stroke in 2016.

Austin Ong, former student and co-founder of the Philippines-China Friendship Club, said the Chinoy community was shocked to hear of Sta. Romana’s passing.

“Ambassador Chito was dearly nicknamed as the people’s ambassador by the OFWs in China. He had an open

@butchfBM

OMMISSION on Elections (Comelec) officials assured senators adequate measures are in place to ensure glitch-free on-line upcoming national and local elections.

This, even as the Senate Committee on Electoral Reforms chaired by Senator Imee Marcos was informed at a hearing Tuesday by the National Bureau of Investigation (NBI) that a former contractual employee of Smartmatic was able to hack its data server.

The Senate panel was told, however, the NBI was convinced that the

Bora, El Nido top picks for WTTC delegates “ T hey are adv ised to self-monitor upon ar r iva l. If Cov id sy mptoms develop, an antigen test w il l be administered at the air por t.

T hose who test positive w il l have to ta ke an RT-PCR test, and if found positive, w il l be required to quarantine.” Said testing procedures w il l apply if delegates develop sy mptoms while attending the conference, and w il l have to quarantine as wel l.

He added, “Mask mandates will still apply to everybody attending the conference.” Over 500 foreign participants and a sizable number of local tourism stakeholders are converging at the Manila Marriot Hotel for the Global Summit. It will be a hybrid event with total participants expected to reach some 4,500 worldwide. (See, “Over 500 foreign delegates expected at first PHL-hosted global summit, postCovid,” in the BusinessMirror, April 18, 2022.)

Wednesday, April 20, 2022 A5

door policy for Filipinos. No matter how VIP the event, he always seemed to have boundless energy to chat, share a laugh, or take a selfie with everyone who approached him. He always made time to mentor the young China watchers.... I remember when I was doing my masters thesis and I asked for an interview in UP, not knowing he came from BGC, where he lived. He not only spent a good hour with me, but did not allow me to pay for the meal, telling me that I’m a student and that I can pay him back by treating the next scholar when I have the chance,” Ong shared.

uled for four days, from February 6 to 10, 2023.

San Antonio said graduation rites will be held from July 10 to 14, 2023.

The DepEd also set remedial or enrichment classes from July 17, 2023 to August 26, 2023.

100% on-site workforce

MEANWHILE, Education Secretary Leonor Magtolis Briones said that teachers and non-teaching staff should report onsite even if the current school year has only several months to go before it would end.

Briones said she understands the challenges like poor Internet connectivity in schools, but they need to follow Memorandum Circular No.96 issued by the Office of the President.

The memo requires all agencies of

the government to adhere to 100 percent on-site workforce in areas under Alert Level 1.

“It is also a requirement of the IATF (Inter Agency Task For the Management of Infectious Diseases) for regions or sites with Alert Level 1 classification. Physical reporting is required. We do have challenges in online education and we are aware of it but we need to comply with the IATF and the circular issued by the Executive Secretary,” Briones said.

San Antonio assured that they are working with regional and division offices to address the problems of Internet connectivity in schools.

Aside from the said circular, Briones has also cited DepEd Memorandum No. 029, series of 2022 requiring 100 percent on-site reporting capac-

ity for all DepEd offices, covering all teaching and non-teaching personnel, including contracts of service and job orders in all offices, schools, and community learning centers, both adopting face-to- face classes and distance learning set up.

“We see the 100 percent on-site reporting as an opportunity to improve the implementation of our multiple learning delivery modalities, through a more efficient supervision and monitoring of the proper use of learning modules and online platform,” she added.

With this, she said, they can facilitate school-level activities such as learning action cells, coaching and mentoring, remedial classes, and parent-teacher conferences.

Claudeth Mocon-Ciriaco

A6

BusinessMirror

Wedneday, April 20, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

2MG INCORPORATED 64 Unit 3c Gloria Diaz St., Bf Resort Village, Talon Dos, City Of Las Piñas KALSARIYA, HIRAL DINESHBHAI Network Administrator

1.

Brief Job Description: Fully support, configure, maintain and upgrade corporate customer’s networks and in house servers, Install and integrate new server hardware and application, Monitor network performance and test for weaknesses, Set up user accounts, permissions and passwords Maintain accurate records and documentation for reporting and feedback.

Basic Qualification: Technically sound and should have excellent problem-solving skills, Excellent network equipment setup and configuration skills, Good technical skills.

WU, CAI-YUE Operations Executive 8.

Salary Range: Php 30,000 - Php 59,999

9.

2.

Brief Job Description: Customer service agent interacts with the customer on behalf of the organization. Provide information about the products and services, responds to customer complaints as well.

KULJU, KALLE RUDOLF Customer Service Agent Swedish 3.

Brief Job Description: Customer service agent interacts with the customer on behalf of the organization. Provide information about the products and services, responds to customer complaints as well.

DUONG VU PHUONG THAO Risk And Compliance Executive Brief Job Description: Initiate and process customer verifications.

Basic Qualification: Native speaker Salary Range: Php 30,000 - Php 59,999

4.

Brief Job Description: Build sustainable relationship of trust through open and interactive communication in Mandarin Speaking.

10.

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs..

11.

HENDRIK Bahasa Indonesian Language-marketing Officer Brief Job Description: Initiate conversation to uncover customer needs

Salary Range: Php 30,000 - Php 59,999

5.

Basic Qualification: Degree qualifications in Civil, Chemical, Mechanical or related Engineering field. · Relevant experience in water treatment, water treatment techniques and instruments · Substantial experience working in a comparable technical role · Fluent Spanish and English. · Able to prioritise and work autonomously on tasks · Ability to work within a team and broader corporate environment, as well as autonomously. · People management skills.

Salary Range: Php 150,000 - Php 499,999

AVANTICE CORPORATION 19/f Pbcom Tower, Ayala Ave., Bel-air, City Of Makati

6.

MEESIL, YUPA Marketing Executive Brief Job Description: Conduct and analyze market research.

PHUNG THANH HY Operations Executive 7.

Brief Job Description: Serves as a liaison officer between the customer and various departments and ensures that basic CS functions are performed.

GIOVANNI REGINALDO TIEQO Bahasa Indonesian Language-officer Customer Service Brief Job Description: Initiate conversation to uncover customer needs.

ACCIONA AGUA, S.A. PHILIPPINES BRANCH 15f Tower 2 Insular Life Corporate Center.,, Insular Life Dr., Fcc, Alabang, Putatan, City Of Muntinlupa

Brief Job Description: · Interpreting clients requirements, identifying / addressing design parameters and engineering problems · Producing and executing well defined structured strategies for the commissioning of engineered elements to systems level and hence to facility level, demonstrating understanding of all the interfaces and regulatory constraints. · Ensuring all justifications for contractual variations during the project is maintained to support subsequent commercial claims. · Liaising and managing contractors to ensure all equipment is fit for purpose and installed in accordance with appropriate client specifications and standards. · Prioritising defect management evaluating, organising and prioritise work within the overall project schedule. · Managing the production of mechanical and electrical assurance documentation to enable timely delivery and close out of project. · Ensured that all health and safety requirements were reached and that work is carried out to own and organizations exacting standards.

Basic Qualification: Must be Native Korean/ Thai/Vietnamese/ Japanese/Chinese/ Cambodian/ Indonesian, fluent in English and native language. With at least a year of experience in the same field.

Basic Qualification: Degree holder, must fluently speak and write in Bahasa Indonesian, Vietnamese, Thai to cater Foreign market

LAN, HONGHUA Chinese It Support Specialist 18.

JANE SISKA YUSNITA Bahasa Indonesian Language-officer Customer Service

19.

Brief Job Description: Initiate conversation to uncover customer needs.

13.

DEVINA MARTINA CHANDRA Bahasa Indonesian Language-officer Fund Management Brief Job Description: Initiate conversation to uncover customer needs

14.

15.

SAE-HENG, SIRORAT Thai Language-marketing Officer Brief Job Description: Initiate conversation to uncover customer needs

MA PHUC KHIEM Vietnamese Language-officer Customer Service Brief Job Description: Initiate conversation to uncover customer needs.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Degree holder, must fluently speak and write in Bahasa Indonesian, Vietnamese, Thai to cater Foreign market

20.

21.

Salary Range: Php 30,000 - Php 59,999

BRIGHT LUME IT SOLUTIONS INC. Unit 202 Erisha Condominium, 1142 P Ocampo Street, Sta Ana, 082, Barangay 757, Santa Ana, City Of Manila Basic Qualification: Must be Native Cambodian/Thai/ Chinese/Indonesian/ Vietnamese/Taiwanese, fluent in English and respective native language.

Salary Range: Php 90,000 - Php 149,999

Basic Qualification: Must be Native Cambodian/ South Korean/Thai/Indonesian/ Vietnamese/Taiwanese/ Japanese/Chinese/ Korean/ Indonesian, fluent in English and respective native language. With at least a year of experience in the same field.

Salary Range: Php 90,000 - Php 149,999

MARCELLAN GUINOT, FRANCISCO Chief Operating Officer

16.

Brief Job Description: Measure the efficiency of organization ‘s operational process and taking steps to improve them develop strategies for the growth of the organization and making sure they are implemented , liaise between the organization and clients, oversee daily operations of the company and the work of executive .

Basic Qualification: Bachelor’s degree in business or related field, executive leadership position/international business experience, expert in both business administration and information technology, fluent in both written and verbal native, English language

23.

24.

Brief Job Description: Handles Order Management and Logistics Management Process

Salary Range: Php 90,000 - Php 149,999

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

LIM WEN LONG It Support Specialist

25.

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

OOI YONG CHUEN It Support Specialist

26.

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

RICHARD TAN It Support Specialist

27.

QUALIFICATION AND SALARY RANGE

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

Basic Qualification: Must be fluent in Chinese language (Writing and Speaking) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language (Writing and Speaking) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language (Writing and Speaking) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language (Writing and Speaking) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language (Writing and Speaking) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language (Writing and Speaking) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language (Writing and Speaking) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language (Writing and Speaking) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language (Writing and Speaking) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language (Writing and Speaking) Salary Range: Php 30,000 - Php 59,999

CGI (PHILIPPINES) INC. 2/f One World Square, Mckinley Hill, Pinagsama, City Of Taguig KAMGUE, GUILLAUME BERTIN Multilingual Service Desk Member 28.

Brief Job Description: Resolve issues utilizing excellent customer service skill to ensure outcomes of customer satisfaction

Basic Qualification: Must be fluent in French and in English Salary Range: Php 60,000 - Php 89,999

DAXIFA CORPORATION Mpire Center 93 West Avenue, Project 7, 1, Bungad, Quezon City

29.

30.

17.

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

ALFRED CHAN CHIN YEE It Support Specialist

CAPGEMINI PHILIPPINES CORP. 12f, Ten West Campus Bldg., Le Grand Avenue, Mckinley West, Fort Bonifacio, City Of Taguig

VO TRAN HUYNH TRANG Process Lead

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

ZHOU, DIANXIONG Chinese It Support Specialist

Salary Range: Php 150,000 - Php 499,999

Basic Qualification: Proficient in written and spoken Vietnamese language, Proficient in using ERP tools

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

YANG, XUN Chinese It Support Specialist

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Degree holder, must fluently speak and write in Bahasa Indonesian, Vietnamese, Thai to cater Foreign market

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

XIA, RUITAO Chinese It Support Specialist

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Degree holder, must fluently speak and write in Bahasa Indonesian, Vietnamese, Thai to cater Foreign market

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

QING, TENGLONG Chinese It Support Specialist

Basic Qualification: Degree holder, must fluently speak and write in Bahasa Indonesian, Vietnamese, Thai to cater Foreign market.

Basic Qualification: Degree holder, must fluently speak and write in Bahasa Indonesian, Vietnamese, Thai to cater Foreign market.

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

LIU, YANZE Chinese It Support Specialist

Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 30,000 - Php 59,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

CAPSLOCK INC. 7th & 8th Flr. Y Tower Bldg., Coral Way Drive Cor. Macapagal Ave., Barangay 76, Pasay City

22.

12.

LOPEZ LOPEZ, CLAUDIO ANTONIO Construction Manager

Basic Qualification: Must be Native Cambodian / South Korean / Thai / Indonesian / Vietnamese / Taiwanese / Chinese / Korean / Japanese, fluent in English and respective native language; with at least a year of experience in similar field

No.

BIGCAT SOFTWARE SOLUTIONS, INC. 18/f Pbcom Tower, 6795 Ayala Avenue Cor. Rufino Street, Salcedo Vill., Bel-air, City Of Makati

8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1, Pitx Kennedy Road, Tambo, City Of Parañaque

TANG, CHENWEI Customer Service Representative Mandarin Speaking

QUALIFICATION AND SALARY RANGE

Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Native speaker Salary Range: Php 30,000 - Php 59,999

ESTABLISHMENT / ADDRESS

Salary Range: Php 90,000 - Php 149,999

3O BPO INCORPORATED 2/f Lcs Bldg South Super Highway, San Andres Cor Diamante St., 087, Barangay 803, Santa Ana, City Of Manila

DAVIDSEN, PETER BAEK Customer Service Agent Danish

Brief Job Description: Serves as liaison between the customer and various departments & ensures that basic CS functions are performed

www.businessmirror.com.ph

TIAN, ZILANG Mandarin Speaking Customer Service Representative Brief Job Description: Addressing customer concerns and issues thru phone call and email.

ZENG, SIZHEN Mandarin Speaking Customer Service Representative Brief Job Description: Addressing customer concerns and issues thru phone call and email.

EASTERN GOLD CORPORATION 503, Nueva St., Barangay 289, Binondo, City Of Manila

Basic Qualification: Mandarin speaking customer service representative.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Mandarin speaking customer service representative.

Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ZHENG, HAOWEI Marketing And Sales Agent 31.

ESTABLISHMENT / ADDRESS

Brief Job Description: Researches and develops various marketing strategies for products and services and implements marketing plans and works to meet sales quotas

QUALIFICATION AND SALARY RANGE Basic Qualification: Can contribute information, ideas, and research to help develop marketing strategies; Can help to detail, design, and implement marketing plans for each product or service being offered Salary Range: Php 30,000 - Php 59,999

No.

ARIO CIPTARIAWAN Chinese Customer Service 43.

32.

33.

34.

35.

Brief Job Description: Language fluency Mandarin & English.

LI, RUN Chinese Customer Service Brief Job Description: Language fluency Mandarin & English.

WANG, DIYUAN Chinese Customer Service Brief Job Description: Language fluency Mandarin & English.

YANG, YANG Chinese Customer Service Brief Job Description: Language fluency Mandarin & English.

Basic Qualification: Fluent in written and oral Mandarin and English.

44.

Basic Qualification: Fluent in written and oral Mandarin and English.

36.

Brief Job Description: Build sustainable relationship of trust through open and interactive communication in Mandarin Speaking

46.

Salary Range: Php 30,000 - Php 59,999

47.

37.

Brief Job Description: The Associate program provides a rich, varied experience. Responsibilities range from partner interactions, in-depth statistical/ econometric analysis, field team management, promote project work, and internal team building.

Basic Qualification: Bachelor and/ or Master’s Degree; 0-5 years work experience; strong analytical and writing skills

48.

49.

50.

Brief Job Description: Verify the accuracy and validity of data: correct any errors

Brief Job Description: Managing incoming calls and customer service inquires EFFENDI Chinese Customer Service

51.

Brief Job Description: Managing incoming calls and customer service inquires FELINA Chinese Customer Service

52.

Brief Job Description: Managing incoming calls and customer service inquires GIANG BON HUNG Chinese Customer Service

INDUSTRIAL INFORMATION RESOURCES, INC. Unit 2401 & 2402, 24th Floor Exquadra Tower, Jade Drive, Ortigas Center, San Antonio, City Of Pasig

38.

Brief Job Description: Managing incoming calls and customer service inquires EDY SUSANTO Chinese Customer Service

Salary Range: Php 90,000 - Php 149,999

Basic Qualification: Analytic skills ability to use thinking & reasoning to solve a problem

Brief Job Description: Managing incoming calls and customer service inquires DUONG VAN NHAT Chinese Customer Service

53.

MARIA PATRICIA WEA Researcher Specialists

Brief Job Description: Managing incoming calls and customer service inquires DARMAN Chinese Customer Service

IDINSIGHT PHILIPPINES INC. 3/f Molave Bldg., 2231 Chino Roces Ave., Bangkal, City Of Makati VEERINA, ABHINAV Associate

Brief Job Description: Managing incoming calls and customer service inquires CINDY MELISA Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Knows how to recommend potential products or services to management by collecting costumer information and analyzing customer reeds.

Brief Job Description: Managing incoming calls and customer service inquiries CHOE YI SHEN Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999

GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor, Silver City 4, Ortigas East, Ugong, City Of Pasig

PHAN THI THUY Customer Service Representative Mandarin Speaking

45.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in written and oral Mandarin and English.

Brief Job Description: Managing incoming calls and customer service inquiries CHENG, PEIHAO Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in written and oral Mandarin and English.

Brief Job Description: Managing incoming calls and customer service inquires CAO, HONGQI Chinese Customer Service

FLYING DRAGON NETWORK PHILIPPINES INC. Malate Bayview Mansion, 1781 M. Adriatico Street. 076, Barangay 699, Malate, City Of Manila

HOU, JIANPIN Chinese Customer Service

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Managing incoming calls and customer service inquiries HANDY Chinese Customer Service

54.

Salary Range: Php 60,000 - Php 89,999

Brief Job Description: Managing incoming calls and customer service inquires HARTONO LESMANA Chinese Customer Service

J-NA ALLOUT TECHNOLOGY SOLUTIONS CORP. 3/f Lipams Bldg., #48 President Avenue, B. F. Homes, City Of Parañaque

SHIN, CHANGHWAN Korean Customer Service Representative 39.

Brief Job Description: Track main industry trends in Korean through blogs, micro blogs and forums

Basic Qualification: College graduate, speaks and write fluently (Korean, English & mandarin)

40.

Brief Job Description: Install and use software, such as firewalls and data encryption programs to protect sensitive information.

ZHANG, FEIHONG Information Security Analyst (chinese Speaking) 41.

Brief Job Description: Install and use software, such as firewalls and data encryption programs to protect sensitive information.

Basic Qualification: Can speak Chinese language and knowledgeable in information technology system.

56.

Brief Job Description: Managing incoming calls and customer service inquires HO A SANG Chinese Customer Service

57.

Brief Job Description: Managing incoming calls and customer service inquiries

HO KAH HOU Chinese Customer Service 58.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Can speak Chinese language and knowledgeable in information technology system.

Brief Job Description: Managing incoming calls and customer service inquires HIU KANG CHEN Chinese Customer Service

Salary Range: Php 60,000 - Php 89,999

LOGICDOSE INC. 36f Robinsons Summit Center, 6783 Ayala Ave., Bel-air, City Of Makati

HUANG, TIANEN Information Security Analyst (chinese Speaking)

55.

Brief Job Description: Managing incoming calls and customer service inquiries

HOANG VAN HOAI Chinese Customer Service 59.

Brief Job Description: Managing incoming calls and customer service inquiries.

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City

42.

Brief Job Description: Managing incoming calls and customer service inquires

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Able to Speak, Read, and Write Chinese Language

No.

JULINO Chinese Customer Service 62.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language

63.

64.

65.

66.

67.

68.

69.

70.

71.

72.

73.

74.

75.

76.

Brief Job Description: Managing incoming calls and customer service inquires.

NAN MWE MWE Chinese Customer Service 77.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read, and write Chinese language.

Brief Job Description: Managing incoming calls and customer service inquires MYA SANDAR PHYO Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquires.

MOE HNIN PHYU Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquires.

MERRY Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries.

MARTIN Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing Incoming calls and customer service inquires MARDIANTO SAPUTRA Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing Incoming calls and customer service inquires LY VAN KHANH Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries LUC THUONG VIET MAN Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries.

LIM WEI JIE Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries.

LIM LI CHING Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries LEO THANH DUONG Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries.

LE THI LY NA Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries.

LE HAI DANG Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries.

KYAW SOE HTET Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries.

KOAY ENG SENG Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Managing incoming calls and customer service inquires.

NG VUI SIONG Chinese Customer Service 78.

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing incoming calls and customer service inquires.

QUALIFICATION AND SALARY RANGE Basic Qualification: Able to speak, read, and write Chinese language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write chinese language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write chinese language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write chinese language.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read, and write chinese language.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read, and write chinese language.

Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 30,000 - Php 59,999 JACKY WILIANTO Chinese Customer Service

ANDIKA CHANDRA Chinese Customer Service

Wedneday, April 20, 2022

60.

Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing incoming calls and customer service inquiries.

JESSICA Chinese Customer Service 61.

Brief Job Description: Managing incoming calls and customer service inquiries.

Basic Qualification: Able to speak, read, and write Chinese language.

NGUYEN THI HUE Chinese Customer Service 79.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read, and write Chinese language.

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing Incoming calls and customer service inquires

NGUYEN THI HUYEN Chinese Customer Service 80.

Brief Job Description: Managing Incoming calls and customer service inquires

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

A7

BusinessMirror

Wedneday, April 20, 2022

A8

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION NGUYEN THI THAO Chinese Customer Service

81.

Brief Job Description: Managing incoming calls and customer service inquires NGUYEN THI THAO Chinese Customer Service

82.

Brief Job Description: Managing incoming calls and customer service inquires NGUYEN TIEN SON Chinese Customer Service

83.

Brief Job Description: Managing Incoming calls and customer service inquires NGUYEN VAN DUNG Chinese Customer Service

84.

Brief Job Description: Managing Incoming calls and customer service inquires NGUYEN VAN HAO Chinese Customer Service

85.

Brief Job Description: Managing Incoming calls and customer service inquires NGUYEN VAN MY Chinese Customer Service

86.

Brief Job Description: Managing Incoming calls and customer service inquires PHAM THI THUY HA Chinese Customer Service

87.

Brief Job Description: Managing incoming calls and customer service inquires.

RUDY YANTO Chinese Customer Service

88.

Brief Job Description: Managing incoming calls and customer service inquires.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

98.

Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

DAI, HANGHANG Mandarin Customer Service Specialist 100.

101.

89.

Brief Job Description: Managing incoming calls and customer service inquires.

XIA, YUYAO Chinese Customer Service

102.

90.

Brief Job Description: Managing incoming calls and customer service inquires.

YUDI KRISTANTO Chinese Customer Service

91.

Brief Job Description: Managing incoming calls and customer service inquires.

103.

Salary Range: Php 30,000 - Php 59,999

92.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems

FELIX JIE VANDICO Indonesian Customer Service Representative 93.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems

HENDRIK Indonesian Customer Service Representative 94.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems

HENDRY TAN Indonesian Customer Service Representative 95.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems

Salary Range: Php 30,000 - Php 59,999

96.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems.

Brief Job Description: Creating and updating customer’s account information

TAN, WEI Mandarin Customer Service Specialist 105.

Brief Job Description: Creating and updating customer’s account information

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write chinese language.

WANG, QINYANG Mandarin Customer Service Specialist 106.

Salary Range: Php 30,000 - Php 59,999

107.

Basic Qualification: Graduate 4 Years Bachelor Degree With Critical Thinking and Problem Solving Skills Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Must be 4 years bachelor degree in any course

108.

Brief Job Description: Creating and updating customer’s account information

ZHOU, RUNYU Mandarin Customer Service Specialist 109.

110.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Graduate 4 Years Bachelor Degree With Critical Thinking and Problem Solving Skills

Brief Job Description: Creating and updating customer’s account information

ZHANG, QIANLAN Mandarin Customer Service Specialist

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Must be 4 years bachelor degree in any course.

Brief Job Description: Creating and updating customer’s account information

WANG, ZAN Mandarin Customer Service Specialist

Brief Job Description: Creating and updating customer’s account information

CHAI JOON NAM Mandarin Finance Specialist Brief Job Description: Records accounts payable and accounts receivable

KUMAR VAIBHAV Business Development Manager

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Effectively managing company’s sales process; deliver revenue target

Basic Qualification: Must be 4 years bachelor degree in any course.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Graduate 4 Years Bachelor Degree With Critical Thinking and Problem Solving Skills

113.

Salary Range: Php 30,000 - Php 59,999

114.

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: -The first in command in The company and responsible for giving The proper strategic direction and creating vision for success.

-The President & CEO also has The responsibility to carry out The mission and is responsible for The overall management and operation of all aspects of The organization. -The President & CEO focuses on long-range goals, strategies, plans and policies routinely exercising direction and independent judgment in The performance of job duties. -The President & CEO is accountable for The overall programmatic and fiscal integrity of The organization.

DANG VAN HAN Vietnamese Operations Csr Ii 116.

Brief Job Description: Provides expedient and accurate customer service to Vietnamese speaking clients and customers

MIYASHITA, MASATOSHI Operation Manager 117.

Brief Job Description: Educational training of Information Technology service. Coordinate CAD operations within the employer and/or its Japan office

KANG, YOUNG JOO Client Care Analyst 118.

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Manage activities, requests for support and information, and operational issues for Visa’s Global clients and processors in a 24x7 support model using shared services best practices to align with client and internal expectations.

WIRIYAMATEE, TODSAPORN Client Care Analyst 119.

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Manage activities, requests for support and information, and operational issues for Visa’s Global clients and processors in a 24x7 support model using shared services best practices to align with client and internal expectations.

Salary Range: Php 500,000 and above

RIGHT CHOICE FINANCE CORP. 5e-1 Electra House Bldg., 115-117 Esteban Street, San Lorenzo, City Of Makati

Basic Qualification: Skilled in Vietnamese language Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Bachelor’s degree with a 3-5 year’s work experience in payment industry field.

Have a good understanding on Visa Payment system or similar payment flow.

Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Bachelor’s degree with a 3-5 year’s work experience in payment industry field. Have a good understanding on Visa Payment system or similar payment flow.

Salary Range: Php 60,000 - Php 89,999

VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor., Washington St., Pio Del Pilar, City Of Makati

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: High engagement business development experience w/in software as service, enterprise software and/or banking software

Salary Range: Php 150,000 - Php 499,999

Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Excellent oral and written communication in mandarin

Basic Qualification: Bachelor’s degree in finance, accounting or any related field of study

Basic Qualification: 1. With a Bachelor degree in Economics and or any equivalent course 2. With more or less 30 years extensive working experience in the Automotive industry 3. With proven skills in financial and operational knowledge in automotive industry 4. Has strong analytical, decisionmaking, and problemsolving skills

VISA PHILIPPINES BUSINESS PROCESSING CENTER, CORP. Unit 1501-p Five E-com Center, Pacific Drive, Mall Of Asia Complex, Pasay City

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Excellent oral and written communication in mandarin

Salary Range: Php 150,000 - Php 499,999

Basic Qualification: Bachelor’s degree or graduate from technical college

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent oral and written communication in mandarin

Basic Qualification: 1) University graduate 2) At least with n2 level in Nihongo 3) Preferably with 10 to 15 years of experience under the same capacity.

TOUEI CAD DESIGN CORPORATION 3/f Unit B Valero Side, Ba Lepanto Bldg. 8747 Paseo De Roxas, Bel-air, City Of Makati

Basic Qualification: Excellent oral and written communication in mandarin

Basic Qualification: Excellent oral and written communication in mandarin

Salary Range: Php 30,000 - Php 59,999

TELUS INTERNATIONAL PHILIPPINES, INC. Units 23/f, 31st/f - 37th/f Discovery Centre, Adb Avenue, Ortigas Center, San Antonio, City Of Pasig

Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: 1.) Responsible for the overall performance of projects teams, ensuring projects are completed as they scoped, according to the schedule and based on the approved budget.

NISHI, YOSUKE President And Chief Executive Officer

Basic Qualification: Excellent oral and written communication in mandarin

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College graduate, fluent in English, preferably 6mos-1year customer service experience

SOJITZ FUSO PHILIPPINES CORPORATION 1016 Sgap Bldg., Edsa Cor. Corregidor St., Bago Bantay, Ramon Magsaysay, Quezon City

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Excellent oral and written communication in mandarin

Brief Job Description: Answering inquiries, resolving problems, fulfilling requests and maintaining data base

HARAMI, HISASHI Regional Manager

Basic Qualification: Excellent oral and written communication in mandarin

Basic Qualification: Excellent oral and written communication in mandarin

QUALIFICATION AND SALARY RANGE

SMCC PHILIPPINES, INC. 6/f Peninsula Court Bldg., 8735 Paseo De Roxas, Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Excellent oral and written communication in mandarin

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ZHANG, WENJIE Chinese Customer Service Representative

Salary Range: Php 30,000 - Php 59,999

ORADIAN INC. 6/f Polaris Center Bldg., 48 Polaris St., Poblacion, City Of Makati

111.

HERIYANTO Indonesian Customer Service Representative

Brief Job Description: Creating and updating customer’s account information

LU, KAI Mandarin Customer Service Specialist

Basic Qualification: Able to speak, read, and write chinese language.

MPOTECH DIGITAL SYSTEM INC. 47/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a Rufino St., Bel-air, City Of Makati

DENY Indonesian Customer Service Representative

Brief Job Description: Creating and updating customer’s account information

LI, ZHIBIN Mandarin Customer Service Specialist

Basic Qualification: Able to speak, read, and write chinese language.

Basic Qualification: Able to speak, read, and write chinese language.

Brief Job Description: Creating and updating customer’s account information

JIN, HAIYA Mandarin Customer Service Specialist

104.

TRAN VAN LINH Chinese Customer Service

Basic Qualification: Graduate 4 years Bachelor Degree with critical thinking and problem solving skills.

No.

115.

Basic Qualification: Able to speak, read, and write chinese language.

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Creating and updating customer’s account information

JIA, KEQI Mandarin Customer Service Specialist

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems

QUALIFICATION AND SALARY RANGE

MYSTIC REALTY DEVELOPMENT CORP. Ub 111 Paseo De Roxas Bldg., 197 Paseo De Roxas, San Lorenzo, City Of Makati

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems.

NISE PORUS Indonesian Customer Service Representative 99.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

MATIO CHRISIDO BRILLIAN Indonesian Customer Service Representative

www.businessmirror.com.ph

120.

CHAN CHUAN WEI Bilingual Admin Officer Brief Job Description: Can speak English and Mandarin fluently.

Basic Qualification: With 1-2 years experience as Admin Officer; Can work under pressure and requires minimum supervision.

Salary Range: Php 30,000 - Php 59,999

*Date Generated: Apr 19, 2022 In the ad material of Notice of Filing of Application for Alien Employment Permits published on APRIL 13, 2022, the company of LIANDY YONAZ under FLYING DRAGON NETWORK PHILIPPINES INC.., should have been read as FLYING FUTURE SERVICES INC. located at 3/f Salcedo One Center, 170 Salcedo St., San Lorenzo, city of Makati and not as published.

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

HONANTO BASTIAN Indonesian Customer Service Representative 97.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems

Basic Qualification: Must be 4 years bachelor degree in any course Salary Range: Php 30,000 - Php 59,999

SONG, HAIFENG Chinese Customer Service Representative 112.

Brief Job Description: Answering inquiries, resolving problems, fulfilling requests and maintaining data base

Basic Qualification: College graduate, fluent in English, preferably 6mos-1year customer service experience Salary Range: Php 30,000 - Php 59,999

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

TheWorld

www.businessmirror.com.ph • Editor: Angel R. Calso

Wednesday, April 20, 2022

A9

Shanghai reports more deaths as factories pushed to reopen

S

hanghai reported another seven Covid-19 deaths as the financial hub grapples with a record outbreak that’s brought unprecedented disruptions to residents and threatens the country’s economic growth.

The people who died were aged between 60 and 101 and had severe underlying health conditions, and follow three deaths announced on Monday.

Shanghai reported 20,416 new infections, a decline from a recent peak though still elevated as the coronavirus continues to spread through the city.

Shanghai’s reporting of its first deaths comes over a month into its outbreak and as debate grows over its official death tally, which is strikingly lower than countries with higher vaccination rates.

The city’s 25 million residents have been locked down for weeks, with many facing difficulties sourcing food, basic necessities and health care. While the rest of the world has pivoted to living with the virus, China is sticking to Covid Zero despite concerns about the growing social and economic toll.

China’s top health official stressed on Monday that the country will continue to pursue its zero-tolerance approach. If the country were to loosen its controls, a large number of people with underlying conditions, as well as the elderly and kids, will be threatened which would severely affect the stable development of the economy and society, Ma Xiaowei, head of the National Health Commission wrote in an article published in state media.

China is deploying swift lockdowns and mass testing

to try and get its biggest outbreak in two years under control. Over the weekend, the western city of Xi’an came under a partial-lockdown for four days after the city of 13 million identified more than 40 infections. The city had lifted a harsh one-month lockdown in late January after achieving Covid Zero.

Steel, chips The steel hub of Tangshan has reimposed a lockdown for five districts, just over a week since it lifted a citywide lockdown.

The city of Kunshan, home to a raft of tech manufacturing operations, continues to face strict prevention measures that have disrupted the semiconductor chip supply chain.

The northeastern province of Jilin, home to some 24 million people, is slowly emerging from a one-month lockdown after authorities said they had contained community spread.

While some cities still face restrictions, measures have been eased in the capital Changchun, allowing Volkswagen AG to gradually resume production at its plants.

Residents in Shanghai’s most severely restricted areas will need daily Covid tests in order to achieve zero community spread as soon as possible, Hu Xiaobo, the city’s clinical test center director, said at a briefing on Tuesday. Tests will also be carried out in other parts that face less stringent curbs, he said.

Shanghai restart While there’s no end in sight for when Shanghai will lift its lockdown, the city has published plans for resuming work—albeit

with no time line—including getting businesses to use closedloop management, where workers live on-site and are tested regularly. Tesla Inc. has restarted production at its factory in the city by using a closed-loop system that will require workers to sleep on the floor, Bloomberg News reported.

The Ministry of Industry and Information Technology has already sent a team to Shanghai to ensure stable production at key firms and is pushing for output to resume in key industries. China faces growing industrial pressure and recovery of the sector remains unbalanced, spokesman Luo Junjie said at a briefing on Tuesday.

The fallout of the latest round of lockdowns shows the challenges officials face in implementing President Xi Jinping’s dual goals of continuing to target elimination of the virus while minimizing the economic and social impacts of the Covid Zero strategy. The government is also facing some of the strongest anti-government criticism in years from a public growing increasingly weary of harsh virus measures.

Wu Zunyou, a virus expert with the Chinese Center for Disease Control and Prevention, said Monday that many people have lost confidence in the current “dynamic Covid Zero” strategy.

“Dynamic Covid Zero doesn’t mean pursuing zero infections, but rather stamping out any outbreak within a short period of time,” Wu wrote on Weibo.

“Many said dynamic zero would affect the economy, but actually only dynamic zero can safely guard the economic development to the greatest extent.”

Bloomberg News

Taiwan faces tough choices as infections hit record levels

T

aiwan’s health minister last Tuesday said the island could see 1,000 local Covid cases a day by the end of the month. It hit that level just three days later, and must now choose between living with the virus like New Zealand or sticking with elimination strategies like in Hong Kong.

Local cases hit a new record of 1,390 on Monday and have averaged 1,176 over the past five days. The surge rattled many of the island’s 23 million people, which has seen just 854 Covid deaths from local infection over the entire pandemic.

“The scale of the pandemic right now is very large,” Health Minister Chen Shih-chung said at a briefing Friday, adding Taiwan may one day see tens of thousands—or even millions— of cases. “The point is not about the case counts, but about whether we can prevent a disastrous impact.”

A strategy of border controls, mask mandates and contact tracing stamped out multiple outbreaks, allowing chip factories to drive exports and growth, pushing the jobless rate to a 21year low. Many residents embraced the safety of the island’s bubble, but businesses want borders to open up. Some 91 percent of American Chamber of Commerce members say it’s “very important” to gradually reopen borders and reduce travel curbs.

“Open borders are still important if Taiwan wants to attract foreign investors, who can contribute more to the economy than tourists,” said Winston Chiao, an economist at Taishin Securities. “To expand or make new investments in

Taiwan, they need to be able to come here personally.”

Minister Chen has previously suggested isolation will be required for even triplevaccinated travelers until 2023, though that was before cases hit four digits.

Hard decisions

Omicron makes it nearimpossible to contain large outbreaks. New Zealand, a Covid Zero hero, ditched the policy after a lockdown failed to halt cases. But its high vaccination rate limited deaths to less than 600, and it’s now benefiting from opening its border and winding back curbs.

In contrast, China is sticking with Covid Zero and lockdowns, despite public anger and damage to the economy. Hong Kong kept border curbs even as tens of thousands of daily cases overwhelmed its testing, tracing and isolation strategy.

Taiwan has cut its mandatory quarantine to ten days and has signaled that contact-tracing may no longer be viable in cities with large numbers of cases. Lending weight to a gradual shift to living with Covid is the fact that 99 percent of cases in Taiwan this year have been mild or asymptomatic, according to Taiwan Centers for Disease Control. President Tsai Ing-wen says authorities will balance the needs of the economy with the risk to public health.

Vaccination concern

But a major concern in Taiwan, one of the world’s fastest-ageing populations, is that roughly 16 percent of those aged 12 and above haven’t had a single

vaccine against a disease which is most risky for the elderly. Just under 80 percent have received two doses of a coronavirus vaccine.

“The underlying concerns for Taiwan that stop it from reopening are the unvaccinated population and that the effectiveness of the second dose of vaccine is wearing off,” said Chen Hsiu-hsi, a professor of public health at National Taiwan University.

And though a poll has shown residents feel less threatened by the Omicron variant than by Delta, many are nervous about opening up—and they’ll vote in island-wide elections for powerful mayoralties in November.

“I am fine with the Covid controls,” said Jessica Liao, an auditor who supports the restrictions. “When the vaccination rate is higher, then we can consider living with the virus.”

On the plus side, some 72 percent of those 75 and older are double-vaccinated. That’s better than levels seen during Hong Kong’s outbreak, where most deaths were among unprotected elders.

Get a shot

The government is pushing vaccines harder, and last week said people in high-contact roles—including teachers and fitness trainers—must have three jabs in order to work from April 22.

“The public is a little lazy and reluctant to get booster shots— they don’t feel the urgency,” said NTU’S Chen. “That needs to change if Taiwan wants to aim for a win-win: open up borders and ease travel restrictions while being able to contain the pandemic.” Bloomberg News

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Ukraine says Russia launches fight for industrial heartland

By Yuras Karmanau

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The Associated Press

VIV, Ukraine—After days of regrouping and reinforcing, the Russian military began a new and potentially climactic phase of the war in Ukraine by launching its longfeared, full-scale ground offensive to take control of the country’s industrial heartland, the Donbas, Ukrainian officials said.

Russian military vehicles move on a highway in an area controlled by Russian-backed separatist forces near Mariupol, Ukraine, on Monday, April 18, 2022. Mariupol, a strategic port on the Sea of Azov, has been besieged by Russian troops and forces from self-proclaimed separatist areas in eastern Ukraine for more than six weeks. AP/Alexei Alexandrov

The stepped-up assaults began Monday along a broad front of over 300 miles (480 kilometers), Ukrainian officials said.

“The Russian troops have begun the battle for the Donbas,” Ukrainian President Volodymyr Zelenskyy announced in a video address. He said a “significant part of the entire Russian army is now concentrated on this offensive.”

Moscow-backed separatists have been fighting Ukrainian forces for eight years in the mostly Russian-speaking Donbas and have declared two independent republics that have been recognized by Russia. Russia has declared the capture of the Donbas to be its main goal in the war since its attempt to seize the capital, Kyiv, failed.

“No matter how many Russian troops are driven there, we will fight,” Zelenskyy vowed. “We will defend ourselves.”

Before the offensive got underway, Russia bombarded the western city of Lviv and other targets in what appeared to be an intensified bid to grind down the country’s defenses.

The Ukraine military’s general staff said Russian President Vladimir Putin’s forces had intensified assaults in the Luhansk and Donetsk regions—both part of the Donbas—and in the area of Zaporizhzhia.

On Monday morning, “almost along the whole front line of the Donetsk, Luhansk and Kharkiv regions, the occupiers attempted to break through our defenses,” Oleksiy Danilov, secretary of Ukraine’s national security council, told

Ukrainian media. “Fortunately, our military is holding out. They passed through only two cities.

This is Kreminna and another small town.”

There were street battles in Kreminna, and Russian forces took control of the city, according to Luhansk regional military administrator Serhiy Haidai. He told Ukrainian TV that heavy artillery fire set seven residential buildings on fire and targeted a sports complex where the nation’s Olympic team trains.

Haidai said that before advancing, Russian forces “just started leveling everything to the ground.”

He said his forces retreated to regroup and keep fighting.

Meanwhile, in the besieged southern port city of Mariupol, Denys Prokopenko, commander of the Azov Regiment of the Ukrainian National Guard that was holding out against Russian forces, said in a video message that Russia had begun dropping bunker-buster bombs on the Azovstal steel plant where the regiment was holed up.

The sprawling plant contains a warren of tunnels where both fighters and civilians are sheltering. It is believed to be the last major pocket of resistance in the shattered city.

In Lviv, a city close to the Polish border that has seen only sporadic attacks during almost two months of war, at least seven people were reported killed in missile strikes.

Lviv has been a haven for civilians fleeing the fighting elsewhere. And to the Kremlin’s increasing anger, it has also become a major gateway for Nato-supplied weapons.

Australian election tightens after rocky start to campaign

US, South Korea urge N. Korea’s return to talks after missile tests

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ustralian voters are turning their backs on the two major parties ahead of next month’s election, with new polling showing the center-right government and the opposition Labor Party could both struggle to win a majority in Parliament.

Prime Minister Scott Morrison’s Liberal National Coalition government saw its primary support fall to 35 percent, while the opposition Labor Party’s fell to 36 percent, according to a Newspoll opinion survey published in The Australian newspaper on Monday. At the same time, one in four voters said they were planning to vote for a minor party or an independent candidate, with support rising to 12 percent for the Australian Greens and 4 percent for the far-right One Nation party.

Australia is due to vote in a national election May 21, with the government campaigning for a fourth term in power off the back of its economic management.

The parties need 76 seats in the 151seat Australian parliament if they want to form government, with Morrison’s coalition currently holding a slim majority. Bloomberg News

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EOUL, South Korea—The US special envoy for North Korea said Monday that Washington and Seoul agreed on the need for a strong response to North Korea’s recent spate of missile tests, though they remain open to dialogue with the country.

Sung Kim f lew to South Korea on Monday for talks two days after North Korea conducted a new ty pe of missile test in its 13th round of weapons firing this year. Experts say North Korea wants to advance its weapons arsenal and wrest concessions such as sanctions relief from its rivals.

Weapons tested include nuclear-capable missiles able to target both the US mainland and its allies such as South Korea and Japan. There are concerns that North Korea may conduct a nuclear test soon to intensif y its pressure campaign.

“We agreed on the need for a strong response to the destabilizing behavior we have seen”

The attack on Lviv hit three military infrastructure facilities and an auto shop, according to the region’s governor, Maksym Kozytskyy. He said the wounded included a child.

A hotel sheltering Ukrainians who had fled the fighting in other parts of the country was also badly damaged, Lviv Mayor Andriy Sadovyi said.

“The nightmare of war has caught up with us even in Lviv,” said Lyudmila Turchak, who fled with two children from the eastern city of Kharkiv.

The biggest city in western Ukraine and a major transportation hub, Lviv is about 80 kilometers (50 miles) from Poland, a Nato member.

Russia has complained about the increasing flow of Western weapons to Ukraine and warned that such aid could have consequences. On Russian state media, some anchors have charged that the supplies amount to direct Western engagement in the fight against Russia.

Kharkiv, Ukraine’s second-largest city, was hit by shelling that killed at least three people, according to Associated Press journalists on the scene. One of the dead was a woman who appeared to be going out to collect water in the rain. She was found with a water canister and an umbrella by her side.

Mo s co w s a id it s m i s s i l e s struck military targets in eastern and central Ukraine including ammunition depots, command headqu ar ters, and g roups of

f rom Nor th Korea, K im told reporters after meeting w ith his South Korean counter part. “[We] also agreed on the need to maintain the strongest possible joint deterrent capability on the peninsula.”

South Korean nuclear envoy Noh Kyu-duk said he and Kim shared concerns that North Korea will likely continue to engage in acts that raise regional tensions. He urged North Korea to return to talks.

Kim said the allies “have not closed the door on diplomacy” with North Korea and have “no hostile intent” toward the country. He repeated his earlier statement that the United States is ready to meet North Korea “anywhere, without any conditions.”

North Korea has so far rejected Kim’s outreach, saying the United States must first drop its hostile policy before talks can resume.

Some experts say North Korea wants the US to relax sanctions or suspend its regular military drills with South Korea, which

troops and vehicles. It reported that its artillery hit hundreds of Ukrainian targets, and that warplanes conducted 108 strikes on troops and military equipment.

The claims could not be independently verified.

Gen. Richard Dannatt, a former head of the British Army, told Sky News that Russia was waging a “softening-up” campaign ahead of the Donbas offensive.

A senior US defense official, speaking on condition of anonymity to discuss the Pentagon’s assessments of the war, said there are now 76 Russian combat units, known as battalion tactical groups, in eastern and southern Ukraine, up from 65 last week.

That could translate to around 50,000 to 60,000 troops, based on what the Pentagon said at the start of the war was the typical unit strength of 700 to 800 soldiers.

The capture of Mariupol is seen as key. If Russian forces succeed in taking full control of the city, that could free up nearly a dozen battalion tactical groups for use elsewhere in the Donbas, the US defense official said.

It also would deprive Ukraine of a vital port, and complete a land bridge between Russia and the Crimean Peninsula, seized from Ukraine from 2014.

The Associated Press journalists Nico Maounis and Philip Crowther in Lviv, Ukraine, Adam Schreck in Vasylkiv, Ukraine, and Robert Burns in Washington contributed to this report, as did other AP staff members around the world.

it views as an invasion rehearsal.

Earlier Monday, the US and South Korean militaries kicked off their springtime computersimulated command post exercise. North Korea has previously responded to such drills with missile tests and warlike rhetoric.

North Korea said Sunday it tested a new tactica l g uided weapon a day earlier which would boost its nuclear fighting capability. Some analysts said the weapon is likely a short-range ballistic missile to be mounted with a tactical nuclear warhead capable of targeting South Korea.

Last month, North Korea testfired an intercontinental ballistic missile potentially capable of reaching the US homeland in its first long-range weapons test since November 2017.

US-led diplomacy meant to convince North Korea to abandon its nuclear ambitions in return for economic and political rewards remain largely stalemated since 2019.

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Global finance meeting focuses on war-driven food insecurity

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ASHINGTON—Global finance leaders are putting the growing crisis over food insecurity and skyrocketing food prices at center stage as members of the International Monetary Fund and World Bank meet in Washington and grapple with the brutal effects of Russia’s war against Ukraine.

Treasury Secretary Janet Yellen was convening a Tuesday morning meeting with leaders from the IMF, World Bank, Group of Seven and Group of 20 global organizations to “call on international financial institutions to accelerate and deepen their response” to countries affected by food issues exacerbated by Russia’s aggression, the Treasury Department said.

Russia and Ukraine produce 14 percent of the world’s wheat supply, according to the United Nations, and the loss of commodities due to the war has resulted in soaring food prices and uncertainty about the future of food security globally, especially in impoverished countries.

The UN’s Food and Agriculture Organization Food Price Index has made its biggest jump since its inception in 1990, reflecting an all-time high in the cost of vegetable oils, cereals and meat, according to the organization.

A late March report from the organization stated that the global number of undernourished people could increase by 8 million to 13 million people into 2023, “with the most pronounced increases taking place in Asia-Pacific, followed by subSaharan Africa, and the Near

East and North Africa. If the war lasts, impacts will go well beyond 2022/23.”

Anna Nagurney, a crisis management specialist at the University of Massachusetts Amherst, said Tuesday’s meeting of global leaders was significant and “speaks to the growing fear and the increasing understanding that the world may be on the verge of a hunger catastrophe.”

Nagurney predicted that countries that have not yet provided clear support for Ukraine—such as China and India—will come to realize that the food insecurity from a prolonged war in Ukraine will affect their own national stability and the welfare of their citizens. “ T his may help to further isolate Russia both morally and economically,” she said.

Deputy Treasur y Secretar y Wa l ly Adeyemo said Monday that the international coalition of countries imposing sanctions on Russia and its allies takes the food security threat seriously.

“One of the things we have to do is take practical steps to demonstrate that this system is helping the people who need it the most” he said, which includes a “focus on those countries that are struggling to pay for things like bread for their people in light of the increase in commodities prices.”

Russia is a member of the G-20, which is made up of representatives of industrial and emergingmarket nations, but Treasur y said that Russians would not be participating in the session on food security. AP

East Timor votes for president in runoff amid political feud

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ILI, East Timor—Voters in East Timor are choosing a president in a runoff Tuesday between former independence fighters who’ve blamed each other for years of political paralysis.

Nobel Peace Prize laureate Jose Ramos-Horta had a commanding lead in the election’s first round but failed to exceed 50 percent of the votes and avoid the runoff. Ramos-Horta received 46.6 percent, incumbent President Francisco “Lu Olo” Guterres won 22.1 percent and 14 other candidates split the rest of the votes in the March 19 election.

Ramos-Horta, 72, and Guterres, 67, were resistance figures during Indonesia’s occupation of East Timor. More than 76 percent of the votes last month went to resistance-era figures, showing how much they dominate politics after two decades despite younger voices emerging.

The winner of their runoff takes office on May 20, the 20th anniversary of the restoration of East Timor’s independence.

“I call on people to accept whatever the results of this election wisely,” Guterres told reporters while voting in Dili, the capital.

Ramos-Horta, East Timor’s president from 2007 to 2012, and Guterres, have blamed each other for years of political paralysis.

In 2018, Guterres refused to swear in nine Cabinet nominees from the National Congress of the Reconstruction of East Timor, known as CNRT, a party led by former prime minister and independence leader Xanana Gusmao, who backed Ramos-Horta’s run for president.

Guterres is from the Revolutionary Front for an Independent East Timor, known by its local acronym Fretilin, which had led resistance to Indonesian rule.

Fretilin says Ramos-Horta is unfit for president, accusing him of causing a crisis as prime minister in 2006, when dozens were killed as political rivalries turned into open conflict on the streets of Dili.

The latest impasse led to the resignation of Prime Minister Taur Matan Ruak in February 2020. But he agreed to stay until a new government is formed and to oversee the response to the coronavirus pandemic. His government has operated without an annual budget and has relied on monthly injections from its sovereign fund savings, called the Petroleum Fund.

During his campaign, Ramos-Horta declared he would call an early parliamentary election if a new majority percentbased centrally on the CNRT percentcouldn’t be negotiated among the parties in the current parliament. Many are concerned that calling an election early will inflame rather than calm inter-party tensions.

Ramos-Horta’s commanding lead in the first round may yet weaken the current ruling alliance—Fretilin, People’s Liberation Party or PLP, and Khunto percentin backing Guterres. Ruak’s PLP party and the rural-based Khunto party, have publicly committed to continuing their alliance with Fretilin until the 2023 parliamentary elections are due.

Ramos-Horta, after casting his vote in Dili, said people are too tired of the political feud, which he said has led to ignoring social and economic problems as well as soaring food prices. “People in East Timor want a new leader to solve the economic problems in this country,” he said.

He pledged to reduce poverty, providing health services for mothers and children and create more jobs if he is elected, and vowed to build communication with the governing parties to restore the constitutional mandate and to prevent a more severe economic downturn.

He also said that he will push for East Timor to join the Association of Southeast Asian Nations in the next two years. “This is a very important matter for us and I’ll maintain diplomatic contacts with Asean leaders to make it happen,” he told reporters.

The former Portuguese colony was occupied by Indonesia for a quarter century and gained independence after a UNsponsored referendum in 1999. Indonesia’s military responded with scorched-earth attacks that devastated the East Timorese half of the island of Timor.

The transition to a democracy has been rocky, with leaders battling massive poverty, unemployment and corruption. Its economy is reliant on dwindling offshore oil revenues.

Turnout in the March 19 election was 77.26 percent, or 6 percent higher than in 2017, the election commission said. Four women were among 16 candidates, the highest number of women taking part in the fifth election since independence. AP

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German bosses, unions jointly oppose boycott of Russian gas

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ERLIN—Germany’s employers and unions have joined together in opposing an immediate European Union ban on natural gas imports from Russia over its invasion of Ukraine, saying such a move would lead to factory shutdowns and the loss of jobs in the bloc’s largest economy.

“A rapid gas embargo would lead to loss of production, shutdowns, a further de-industrialization and the long-term loss of work positions in Germany,” said Rainer Dulger, chairman of the BDA employer’s group, and Reiner Hoffmann, chairman of the DGB trade union confederation, in a joint statement Monday on Germany’s dpa news agency.

They argued that EU sanctions need to be targeted to put pressure on Russia while minimizing damages to the countries imposing the sanctions, saying “in the current discussion, we don’t see that.”

The statement comes as European leaders are discussing possible new energy sanctions against Russian oil, following a decision April 7 to ban Russian coal imports beginning in August.

Ukraine’s leaders say revenues from Russia’s energy exports are financing Moscow’s destructive war on Ukraine and must be ended.

That won’t be easy to do. The EU’s 27 nations get around 40 percent of their natural gas from Russia and around 25 percent of their oil. Natural gas would be the most difficult do without, energy analysts say, since most of it comes by pipeline from Russia and supplies of liquefied gas, which can be ordered by ship, are limited amid strong demand worldwide.

Germany, a major manufacturing hub and an importer of Russian gas, has so far resisted an immediate shut-off and said it plans to instead phase out Russian oil by the end of the year and most Russian gas

imports by mid-2024. The EU’s executive commission has outlined steps to cut the consumption of Russian gas by twothirds by year’s end through using more pipeline gas from Norway and Azerbaijan, importing more liquefied gas, accelerating the deployment of wind and solar projects and intensifying conservation efforts.

German Vice-Chancellor Robert Habeck said in an interview with the Funke media group that “an immediate gas embargo would endanger social peace in Germany.”

Despite widespread economic sanctions against Russian banks and individuals, the EU continues to send around $850 million per day to Russia for oil and gas, even as EU governments condemn the war in Ukraine. Gas-intensive companies include producers of glass, metals, ceramics and chemicals.

Industry officials say in many cases natural gas would be impossible to replace in the short run, and associations representing food processing, metal galvanizing and glass companies as well as the head of the chemical industry union have also opposed a sudden shutoff of Russian gas imports.

Energy analysts say a complete Russian gas cutoff could cause a recession and put some EU governments in the position of having to ration gas. The government would decide which businesses are less essential and those would have their supply shut off or reduced to spare households and hospitals, who are protected by EU law. In any case, such a shutoff would send already high gas prices even higher.

Analysts say Russian crude oil would be easier to replace than gas for the EU but that a boycott would still lead to higher energy prices, hurting consumers who are already facing a record EU inflation of 7.5 percent. AP

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turn for the worse.

Some tycoons seized on the slump in their companies’ share price to increase their positions. Lukoil Chairman Vagit Alekperov has regularly purchased depositary receipts from the market over the years, Bloomberg calculations show.

Since the invasion of Ukraine on February 24, trading in depository receipts of Russian companies has been frozen by foreign bourses. The international sanctions that followed have targeted tycoons, banks and even the country’s foreign reserves, while turning the nation’s listed companies into penny stocks in a matter of days.

According to the amendments signed

by Putin, trading in depositary receipts on foreign exchanges must stop 10 days after the bill is published. At the same time, the laws allows for special carve-outs if companies request permission to continue trading.

So far none have, and even before the bill comes into force, JPMorgan & Chase had begun to allow holders of depositary receipts in Russian companies to cancel them, Reuters reported, citing two unidentified people familiar with the matter. Citigroup Inc. has opened books to cancel GDRs for En+ Group, which counts billionaire Oleg Deripaska as its largest shareholder, according to a company filing.

“The rights of shareholders who believe in Russia and have invested in the Russian market for many years and who cannot hold Russian shares directly, are being hurt,” steel tycoon Lisin said in an interview with Kommersant this month, commenting on the law. “They have nothing to do with politics, and there is a risk that their property rights will simply be lost.” Bloomberg News

Nato-linked center to hold ‘live-fire’ cyber defense drills

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cyber organization accredited by the North Atlantic Treaty Organization will conduct what it bills as the largest and most complex “live-fire” cyber defense exercises in the world beginning on Tuesday.

The Nato Cooperative Cyber Defense Center of Excellence, which is based in Estonia, said the annual event, called Locked Shields, is intended to boost the skills of cybersecurity experts defending national IT systems and critical infrastructure under real-time attacks.

The participants are deployed to assist a fictional country handle a large-scale cyberattack. More than 2,000 people from 32 nations, including Ukraine, are expected to be involved.

This year’s Locked Shields event comes amid the ongoing war in Ukraine, in which hacking has had a constant, if

relatively muted, role in Russia’s invasion.

Russian state-sponsored hackers have been accused of attacking Ukrainian government agencies and attempted to breach the power grid. Ukrainian companies have also been subject to regular cyberattacks, according to government officials.

Ukraine’s government, meanwhile, has helped organize a group of hacktivists that have waged cyberattacks in Russia.

But concerns about cyberattacks have spread well beyond the war zone, too. Finland reported an attack on government websites earlier this month, just as speculation mounted that the Nordic nation may apply for Nato membership. And US President Joe Biden has warned US businesses to prepare for retaliatory cyberattacks as a response to sanctions imposed against Russia.

Bloomberg News

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Greece says sanctioned Russian oil tanker seized

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THENS, Greece—Greek authorities say they have seized a Russian tanker in the Aegean Sea as part of European Union sanctions imposed against Russia.

The Greek coast guard said the Russian-f lagged Pegas, an oil tanker with 19 Russian crew members on board, was seized April 15 and is currently anchored in the bay of Karystos, on the southern coast of the island of Evia. The coast guard said the seizure order concerned the ship itself, and not its cargo.

The European Union, of which Greece is a member, has adopted a wide range of sanctions against Russia over the latter’s invasion of Ukraine, designed to pressure the Russian economy and the gover nment of President V ladimir Putin.

The sanctions include import and export bans for a wide variety of goods, and a ban on access to EU ports by Russian-flagged ships.

Key development:

Japan sends gas masks, hazmat suits and drones to Ukraine

TOK YO—Japan will send gas masks, hazmat suits and drones to Ukraine to help defend the country against Russia’s invasion amid growing concern of chemical weapons use by the Russian military.

Defense Minister Nobuo Kishi said Tuesday that Japan is sending the anti-chemical-warfare equipment at the request of the Ukrainian government.

Japan last month provided bulletproof vests, helmets and other nonlethal arms equipment to Ukraine as an exception to Tokyo’s ban on arms exports to countries in conflict, saying Ukraine is being

Putin bars Russian firms from foreign stock listings anctioned or unsanctioned, Russian billionaires face fresh hurdles after President Vladimir Putin dropped the curtain on the era of foreign stock listings.

Putin signed off on legal amendments on April 16 that require Russian companies to delist their overseas shares, winding up a process that has gathered pace with the annexation of Crimea in 2014.

That could force tycoons including Russia’s richest man, Vladimir Potanin, as well as steel billionaires Vladimir Lisin and Alexey Mordashov, to reconfigure the ownership structure of businesses they hold—in part—via overseas shares paying foreign-currency dividends.

“Most companies and their main shareholders who had a listi ng or depositary receipts abroad won big from the financial freedoms and economic ties with the West,” said Anton Zatolokin, head of research at Otkritie Broker. “By destroying what took 30 years to build, they take a direct and indirect hit.”

Few things in the late 1990s and 2000s showcased Russia’s rising economic clout and global financial integration better than the country’s biggest companies, like MMC Norilsk Nickel PJSC and Lukoil PJSC, registering depository receipt programs in New York, London and Frankfurt.

From a peak of $17 billion in 2007 alone, Russian initial public offerings abroad have faltered in recent years, data compiled by Bloomberg show. Such listings have raised only $6 billion in total since Russia’s annexation of Crimea in 2014, when international sanctions showed how vulnerable businesses were on foreign markets as geopolitics took a

Wednesday, April 20, 2022

invaded. The shipment has raised controversy in Japan, whose pacifist Constitution renounces war.

“Banding together with the international community and firmly taking action against Russia’s invasion, which violates international law, is extremely important from the viewpoint of our own national security as well,” Kishi said.

The government has revised its operational guideline of arms transfer to allow provisions of nonlethal equipment to Ukraine

and says the new rule covers gas masks and protective gear. Japan is also sending commercially available drones that are not considered arms equipment.

Japan has been quick in joining the United States and European Union in imposing sanctions against Russia and supporting Ukraine and its people because Tokyo fears the impact its invasion could have on East Asia, where China has been increasingly pushing its own territorial claims. AP

A12 Wednesday, April 20, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Long-term food strategy needed

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mong all the countries that were affected by the 2008 food price crisis, only China is best prepared for the price shocks caused by the war in Eastern Europe, according to an article published by The Wall Street Journal. The author, Carol Ryan, noted that China currently has one of the largest grain inventories in the world. Beijing has focused on food security for its population of 1.4 billion for several years and began steadily building its strategic reserves after the food price crisis.

China’s wheat stockpile, for instance, is enough to meet the needs of its citizens for 18 months. Beijing has also ramped up its food imports at the beginning of the Covid-19 outbreak in 2020.

Because China heeded the lessons of the 2008 food price crisis, it does not have to scramble for grains and pay more for essential food items, which became expensive after Russia invaded Ukraine.

Other countries, however, are currently grappling with price increases and are expected to pay more for food in the coming months because of the restrictions imposed by some food exporters. David Malpass, president of the World Bank Group, said in a blog published on April 8 that the number of countries that have slapped food-export restrictions jumped by 25 percent to 35. The figure is more than the 29 countries that curbed food exports in 2008 to ensure that their people have enough to eat at affordable prices, according to a New York Times report.

The Philippines had to pay more than double for the rice it imported in 2008 to beef up its stockpile. Rice prices jumped to more than $1,000 per metric ton that year, from an average of $400-$500 per MT a few months before Manila returned to the international market to procure its requirements. The crisis made the government realize that it should start increasing its investments in agriculture, as the Philippines cannot completely rely on the international market to augment the country’s food supply.

Despite government’s move to invest heavily in the rice sector in recent years, the country continues to import rice and it appears that it will remain a major buyer of the staple as the sufficiency level is below 90 percent. While it is true that the country cannot do away with importation given its commitment to the World Trade Organization, international agreements do not preclude the country from putting in place measures that will enable the Philippines to cope with disruptions caused by geopolitical developments and climate change. And policymakers can start by looking at what China has done in recent years and find out what can be applied in the Philippine context.

A long-term food strategy, one that is insulated from the whims of government officials, should be crafted soon. Policymakers should look at the viability of stockpiling food especially at the local level, given the difficulties of transporting foodstuff during emergencies. More importantly, this strategy should strengthen the capacity of local governments, particularly those that have large farm areas, to produce crops and other food items that would not only fill the food needs of their own residents but also that of neighboring localities.

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Florida judge voids US mask mandate for planes, other travel

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By Curt Anderson | The Associated Press

T. PETERSBURG, Florida—A federal judge in Florida struck down a national mask mandate on airplanes and mass transit Monday, and airlines and airports swiftly began repealing their requirements that passengers wear face coverings.

The judge’s decision freed airlines, airports and mass transit systems to make their own decisions about mask requirements, resulting in a mix of responses.

The major airlines switched to a mask optional policy, with some eliciting cheers from passengers when the changes were announced over loudspeakers. The Transportation Security Administration said Monday night that it would it will no longer enforce the mask requirement, and airports in Houston and Dallas almost immediately did away with their mandates after the TSA announcement.

Los Angeles International Airport, the world’s fifth-largest by passenger volume, also dropped its mandate but the Centers for Disease Control continued to recommend masking on transportation “and I think that’s good advice,” LAX spokesman Heath Montgomery said.

Sleepy passengers on a Delta Air Lines flight between Atlanta and Barcelona, Spain, cheered and applauded when a flight attendant announced the news mid-flight over the ocean.

“No one’s any happier than we are,” the attendant says in a video posted by Dillon Thomas, a CBS Denver reporter, who was on the flight.

She added that people who wanted to keep on their masks were encouraged to do so.

“But we’re ready to give ém up,” she added. “So thank you and happy unmasking day!”

New York City’s public transit

system planned to keep its mask requirement in place. The Washington Metropolitan Area Transit Authority said it would make masks optional for riders on its buses and trains.

The Association of Flight Attendants, the nation’s largest union of cabin crews, has recently taken a neutral position on the mask rule because its members are divided about the issue. On Monday, the union’s president appealed for calm on planes and in airports.

“The last thing we need for workers on the frontlines or passengers traveling today is confusion and chaos,” union leader Sara Nelson said.

Nelson said it takes airlines 24 to 48 hours to put new procedures in place and tell employees about them. She said passengers should check with airlines for updates about travel requirements.

The mask requirement covered airlines, airports, mass transit and taxis, and was the biggest vestige of pandemic restrictions that were once the norm across the country.

The decision by US District Judge Kathryn Kimball Mizelle in Tampa, an appointee of former President Donald Trump, also said the US Centers for Disease Control and Prevention failed to justify its decision and did not follow proper rulemaking procedures that left it fatally flawed.

In her 59-page ruling, Mizelle said the only remedy was to vacate the rule entirely across the country because it would be impossible to end

it for the limited group of people who objected in the lawsuit.

The judge said “a limited remedy would be no remedy at all” and courts have full authority to make a decision such as this — even if the CDC’s goals in fighting the virus are laudable.

The Justice Department declined to comment when asked if it would seek an emergency stay to block the judge’s order. The CDC also declined to comment.

The White House said the court ruling means that for now the mask order “is not in effect at this time.”

“This is obviously a disappointing decision,” White House press secretary Jen Psaki told reporters.

“The CDC is recommending wearing a mask on public transit.”

The CDC had recently extended the mask mandate, which was set to expire Monday, until May 3 to allow more time to study the BA.2 omicron subvariant of the coronavirus now responsible for the vast majority of cases in the US. In New York, Metropolitan Transportation Authority communications director Tim Minton said the system was “continuing to follow CDC guidelines and will review the Florida court order.”

The MTA operates New York City buses and subway trains as well as two commuter rail lines. Face coverings have been mandatory on all trains and buses since early in the pandemic.

United Airlines said in a statement that, effective immediately, masks would no longer be required on domestic flights or certain international flights.

“While this means that our employees are no longer required to wear a mask—and no longer have to enforce a mask requirement for most of the flying public—they will be able to wear masks if they choose to do

so, as the CDC continues to strongly recommend wearing a mask on public transit,” United said.

Delta Air Lines and Alaska Airlines also made similar announcements.

The federal mask requirement for travelers was the target of months of lobbying from the airlines, which sought to kill it. The carriers argued that effective air filters on modern planes make transmission of the virus during a flight highly unlikely.

Republicans in Congress also fought to kill the mandate.

Critics have seized on the fact that states have rolled back rules requiring masks in restaurants, stores and other indoor settings, and yet Covid-19 cases have fallen sharply since the Omicron variant peaked in mid-January.

There have been a series of violent incidents on aircraft that have mainly been attributed to disputes over the mask-wearing requirements.

The lawsuit was filed in July 2021 by two plaintiffs and the Health Freedom Defense Fund, described in the judge’s order as a nonprofit group that “opposes laws and regulations that force individuals to submit to the administration of medical products, procedures and devices against their will.”

Republican Florida Gov. Ron DeSantis, who was not directly involved in the case but has battled against many government coronavirus requirements, praised the ruling in a statement on Twitter.

“Great to see a federal judge in Florida follow the law and reject the Biden transportation mask mandate.

Both airline employees and passengers deserve to have this misery end,” DeSantis tweeted. Associated Press writers David Koenig in Dallas, Michael Balsamo and Will Weissert in Washington, and Karen Matthews in New York contributed to this story.

Gaza militants fire rocket into Israel as tensions soar

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By Joseph Krauss | The Associated Press

ERUSALEM—Palestinian militants fired a rocket into southern Israel for the first time in months on Monday, in another escalation after clashes at a sensitive holy site in Jerusalem, a series of deadly attacks inside Israel and military raids across the occupied West Bank.

Israel said it intercepted the rocket, and there were no immediate reports of casualties or damage.

Israel holds Gaza’s militant Hamas rulers responsible for all such projectiles and usually launches airstrikes in their wake. It was the first such rocket fire since New Year’s Eve. Early Tuesday, Israeli fighter jets carried out a series of airstrikes in southern Gaza Strip, targeting a “weapons manufacturing site” for Hamas, the Israeli military said.

There were no reports of injuries.

Hours earlier, the leader of the Islamic Jihad militant group, which boasts an arsenal of rockets, had issued a brief, cryptic warning, condemning Israeli “violations” in Jerusalem.

Ziad al-Nakhala, who is based outside the Palestinian territories, said threats to tighten an IsraeliEgyptian blockade on Gaza imposed after Hamas seized power 15 years ago “can’t silence us from what’s happening in Jerusalem and the occupied West Bank.”

However, no Palestinian group claimed responsibility for the rocket fire.

Palestinians and Israeli police clashed over the weekend in and around the Al-Aqsa Mosque compound in Jerusalem, which has long been an epicenter of Israeli-Palestinian violence. It is the third holiest site in Islam and the holiest for Jews, who refer to it as the Temple Mount because the mosque stands on a hilltop where the Jewish temples were located in antiquity.

Protests and clashes there this time last year helped trigger an 11day Gaza war.

Police said they were responding to Palestinian stone-throwing and that they were committed to ensuring that Jews, Christians and Muslims—whose major holidays are converging this year—could cel-

ebrate them safely in the Holy Land.

Palestinians view the presence of Israeli police at the site as a provocation and said they used excessive force.

Prime Minister Naftali Bennett said Monday, ahead of the rocket fire, that Israel has been the target of a “Hamas-led incitement campaign.”

The latest tensions come during the rare confluence of the Muslim holy month of Ramadan and the week-long Jewish holiday of Passover. Christians are also celebrating their holy week leading up to Easter.

Tens of thousands of visitors have flocked to Jerusalem’s Old City — home to major holy sites for all three faiths — for the first time since the start of the coronavirus pandemic.

Jordan and Egypt, which made peace with Israel decades ago and coordinate with it on security matSee “Gaza,” A13

Opinion BusinessMirror

www.businessmirror.com.ph

In Iran, Russia’s war on Ukraine is a political flash point

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By Nasser Karimi & Jon Gambrell | The Associated Press

EHRAN, Iran—During its 1979 Islamic Revolution, Iran embraced the protest cry of “neither East nor West,” rejecting both the US and the Soviet Union, then locked in the Cold War. The phrase to this day hangs over the doors of Iran’s Foreign Ministry.

Russia’s war on Ukraine, however, has exposed just how much Tehran has tilted toward Moscow in recent years as the collapse of its nuclear deal with world powers stoked decades-old, hardline anger at America. Members of Iran’s paramilitary Revolutionary Guard train on Russian surface-to-air missile systems and aircraft. Hardline President Ebrahim Raisi visited Russian President Vladimir Putin on one of his first trips abroad.

The war also exposes deeper fault lines even within Iran’s domestic politics. Among ordinary Iranians, there is a great deal of sympathy for Ukraine, a nation that staged a pro-democracy “Orange Revolution” similar to the “Green Revolution” that shook Iran more than a decade ago but was forcefully put down.

Iran’s historic enmity with Russia has combined with a wider feeling among some that backing Moscow betrays the Islamic Republic’s oftenstated message that it stands against the world’s major powers.

“We have to help oppressed people of Ukraine as we do support people of Palestine and Yemen simply because they are targeted by powers,” said Zohreh Ahmadi, a mother of two in downtown Tehran’s Sarcheshmeh neighborhood. “A bullying power is killing children and women in Ukraine.”

Iran’s state-controlled television network, whose English-language service Press TV describes itself as “the voice of the voiceless,” hews close to Russian talking points. It used Moscow’s euphemistic term “special operation” to describe the war’s early days. Stories referencing the killings of civilians in Bucha by Russian forces include headlines falsely describing it as a “fake attack” or “provocation” on Press TV’s website.

Part of the Iranian government’s anger at Ukraine likely stems from the aftermath of the Guard’s 2020 shooting down of a Ukrainian airliner, which killed 176 people on board.

Tehran denied for days it shot down the plane before saying troops made a mistake after Iran fired ballistic missiles at US forces in Iraq in response for the killing of a top general.

Ukraine’s criticism of Iran grew more direct as time went on. That’s something Tehran’s Friday prayer leader, Kazem Sedighi, mentioned in a March sermon after Russia began its war on Ukraine.

“In the case of the airplane, Ukraine misbehaved against us and misused it in support to the US,” Sedighi said.

He also engaged in the “whataboutism” common in both Iranian and Russian state media—bringing up a separate topic to charge hypocrisy while deflecting the issue at hand.

“Wars claim the lives of innocent people in Yemen and Syria but there is huge propaganda over Ukraine and this is racism,” Sedighi said.

Supreme Leader Ayatollah Ali Khamenei, who has final say on all matters of state, said his nation opposed “war and destruction” while blaming America for the conflict. He also brought up a longtime suspicion that he shares with Putin—that the US, rather than ordinary citizens, fuels what he described as the “color coups” that back democracy.

For Khamenei, it is memory of the Green Movement protests that followed Iran’s disputed 2009 presidential election that directly challenged the theocracy he leads. Iran’s security services used violence and mass arrests to put down the demonstrations. But unrest has re-emerged in recent years over economic issues.

For Putin, it is Ukraine’s 2004 Orange Revolution and its later Maidan protest movement that dislodged the

Kremlin-leaning politician Viktor Yanukovych.

But others from within Iran’s Shiite theocracy have raised concerns about Tehran’s stance on the war.

Mohsen Aminzadeh, a former deputy foreign minister under reformist President Mohammad Khatami who was later imprisoned after the disputed 2009 election, went as far as to call Iran’s position “very bad” in a recent interview.

“It was possibly the worst, the most passive stance of Iran’s diplomacy since 1979,” Aminzadeh recently told the monthly magazine Ayandeh Negar.

On the streets of Tehran recently, 17 people were willing to speak to an Associated Press journalist about the war, with others declining. Of them, 12 supported Ukraine, three reiterated Iran’s official stance and two supported Russia.

“I support Ukraine,” said Sajjad, a 26-year-old computer programmer.

Like others, he spoke on condition he be identified only by his first name for fear of reprisals. “Russians are killing innocent people for nothing.

Why should we remain silent?”

A retired Iranian captain, Mehrdad, called Russia’s reasons for the war “ridiculous” and similar to those used by Iraqi dictator Saddam Hussein to launch a bloody eight-year war on Iran in the 1980s. Saddam at the time pointed to supporting Iran’s Arab minority in its oil-rich southwest as a justification for his invasion.

“It is stealing Saddam’s reasons for attacking Iran; possible threats by revolutionary Iran and supporting an ethnic group,” said Mehrdad, 75.

“By this excuse, every country can attack others—even Russia.”

Ali Nemati, a 64-year-old retired teacher, praised Putin as “very brave” for challenging Nato, also a new preoccupation of Iran’s hardline government under Raisi. However, Iran has been living quietly next to Turkey, which joined Nato in 1952.

“Iran should support Russia since it is alone in its fight against imperialism,” Nemati said.

However, in its imperial past, Russia fought multiple wars against Persia, which ceded territory to the czar. Russia invaded Iran alongside Britain in World War II to secure oil and trade routes in their war against Germany. After the war, Russia refused to leave, sparking the first global crisis of the newly formed United Nations.

That memory hasn’t faded. Russia’s brief use of an Iranian air base amid the war in Syria, in which both backed embattled Syrian President Bashar Assad, similarly sparked widespread anger.

Now, Iran may be feeling like a poker chip in a wider game rather than a player at the geopolitical table. A sudden demand by Russia for sanctionsrelief guarantees threw negotiations in Vienna over Iran’s tattered nuclear deal into disarray. Russia’s demand seems to have eased, while now it appears American sanctions on the Guard remain the last hurdle.

Iranians have noticed Russia’s gambit.

“The point that Putin made a strategic mistake and sent forces to Ukraine and is now drowning in a Ukrainian quagmire cannot be a (logical) reason for Russia to take the deal as hostage,” the conservative daily newspaper Jomhouri Eslami said in a March editorial.

Taxi driver Abbas Najafi suggested Iran stay out of it all together.

“It is not our war. It is not our problem,” he said. “We are under the US sanctions now and we should not look for more headaches.” Gambrell reported from Dubai, United Arab Emirates.

Wednesday, April 20, 2022 A13

Sri Lanka must show IMF sustainable debt plan for emergency aid

By Eric Martin & Jeanette Rodrigues | Bloomberg Opinion

W

hen Sri Lankan officials arrive in Washington this week to meet with the International Monetary Fund amid an economic and political crisis, the main question they’ll need to answer is how the country plans to manage its billions in debt.

Sri Lanka is seeking up to $4 billion this year to help it import essentials and pay creditors. To get any of that through the IMF’s various programs, the government of President Gotabaya Rajapaksa must present a sustainable debt program. That’s a standard requirement for aid from the so-called lender of last resort, even if a shortage of food, fuel and medicine is pushing the country toward a humanitarian crisis.

The downward economic spiral —dwindling foreign reserves and soaring inflation—has triggered political unrest in Colombo, where Rajapaksa has resisted calls to step down despite growing protests and a loss of coalition partners in parliament.

Over the weekend, the army denied speculation it planned to crack down on protesters, while the local stock exchange announced it would shut this week amid the uncertainty.

The outlook makes a default inevitable, as acknowledged by S&P Global last week when it downgraded Sri Lanka’s credit rating and warned of another cut if the nation misses coupon payments due Monday. Meanwhile, investors are trying to figure out how much they might recover on

$12.6 billion of foreign bonds, and if there’s even profit to be made.

The country’s dollar bond due July 2022 indicated 5.2 cents higher on Monday to trade at 46 cents on the dollar, after a sharp drop Friday.

Here are some IMF funding options in play as talks are due to start this week:

Emergency assistance

IMF members can access one-off emergency loans, with few conditions, through the lender’s Rapid Credit Facility and Rapid Financing Instrument. However, this payout is capped at 50 percent of a state’s quota for a year, which in Sri Lanka’s case works out to $395 million—or 289 million in special drawing rights, the IMF’s unit of account. The nation has declared that it will prioritize payments for food and fuel imports over debt servicing.

But even for that, Colombo needs to take steps toward restructuring its debt, which the IMF staff last month determined was unsustainable.

“When the IMF determines that a country’s debt is not sustainable, the country needs to take steps to restore debt sustainability prior to IMF lend-

ing,” Masahiro Nozaki, the IMF’s mission chief for Sri Lanka, said in an emailed response to questions.

“Thus, approval of an IMF-supported program for Sri Lanka would require adequate assurances that debt sustainability will be restored.”

Meeting that criteria could include even initial steps like hiring advisers, which the government is pursuing. The administration has set a Friday deadline for applications from financial and legal advisers, extending its original date by a week.

That makes Finance Minister Ali Sabry’s stated goal of securing emergency funds as early as a week after negotiations start look optimistic.

Stand-by arrangement

Given Sri Lanka has a $1 billion bond maturing in July and more repayments over the course of 2022, it will probably need access to the IMF’s Stand-By Arrangement. Termed as its “workhorse” instrument, Sri Lanka would be eligible for a loan of as much as 435 percent of its quota —roughly $3.4 billion, net of repayments—for up to 36 months.

The payout can be front-loaded if the need is dire, but is contingent upon the borrower agreeing to conditions such as specific revenue and deficit targets.

Central bank Governor Nandalal Weerasinghe said last week that it was too early to estimate a value of the lending that Sri Lanka could get from the IMF or to confirm the type

of program that the lender could agree to.

While he said that an Extended Fund Facility—which allows longer repayment periods—may be best suited to the country, it typically requires deeper structural reforms. Sri Lanka had that facility approved in 2016, and a Stand-By Arrangement before it during the financial crisis of 2009. Weerasinghe noted that Sri Lanka in the 2009 loan was approved for access to 400 percent of its quota.

“I do not see why we cannot get at least that amount,” he said. “Now the financial gap is much much higher.”

Debt sustainability

Keeping deficits in check will entail extending the maturity of existing debt and smaller interest payments.

When the government last week announced it would halt debt payments and warned it was heading for an unprecedented default, Weerasinghe said authorities were seeking to negotiate with creditors.

Nomura Holdings Inc. envisions an Ecuador-style restructuring where Sri Lanka will swap notes for longer-dated bonds with lower coupon rates and some reduction to principal. Barclays Plc said Sri Lanka could roll all of its debt into a new bond with a final maturity in 2037 and semi-annual amortizations starting in 2027; coupons could be in the range of 4 percent to 5 percent, lower than its current average 6.6 percent.

Global investors flee China, fearing that risks eclipse rewards

As a result, some international investors are finding an aggressive allocation to China increasingly unpalatable. Outflows from the country’s stocks, bonds and mutual funds accelerated after Russia’s invasion of Ukraine, while Norway’s $1.3 trillion sovereign wealth fund has snubbed a Chinese sportswear giant due to concerns about human-rights abuses.

US dollar private-equity funds that invest in China raised just $1.4 billion in the first quarter—the lowest figure since 2018 for the same period.

On Monday, China’s better-thanexpected economic data prompted questions from analysts who pointed to inconsistencies with alternative statistics that paint a grimmer picture of the economy.

The scale and speed of sanctions imposed on Russia forced a rethink of Western attitudes to China, according to Simon Edelsten of UK investment firm Artemis Investment Management LLP. His team at the $37 billion money manager sold all its China investments last year following Beijing’s interventions in high-profile listings like Didi Global Inc. and Ant Group Co., saying such moves threatened shareholder rights. China’s more assertive rhetoric around Hong Kong and sovereignty claims in the South China Sea also made the investment team uneasy, Edelsten said.

“Politics and governance factors should now set a cautious tone, especially for long-term commitments”

to China, said Edelsten, adding that European measures taken against Russia show that strong trade ties are no guarantee of diplomatic security.

“The Ukraine invasion raises these risks very sharply and our funds are likely to remain very lowly weighted in China for some years to come,” he added.

Brendan Ahern, chief investment officer at Krane Funds Advisors LLC, describes “indiscriminate and price-insensitive selling” of Chinese shares by international investors in the past year.

Beijing’s regulatory actions “felt like an attack on the most respected and widely foreign-held companies,” he said, while sanctions on Russia raised concern the same could happen to China. His firm—which manages China-focused exchangetraded funds—is replacing US-listed Chinese stocks with those trading in Hong Kong to reduce risk.

Making money in China’s public markets has become more difficult.

The CSI 300 Index of stocks is down about 15% year-to-date and its riskadjusted return—as measured by the Sharpe ratio—is among the lowest globally, at minus 2.1. That’s only slightly better than Sri Lanka’s Colombo All-Share Index. The Chinese index is trading near the lowest level since 2014 relative to MSCI Inc.’s global stock gauge.

For the first time since 2010, Chinese benchmark sovereign 10-year notes offer no carry over comparable

US Treasuries. And returns in China’s high-yield dollar credit market were the worst in at least a decade last quarter.

Global funds have started to pull out, selling more than $7 billion worth of mainland-listed stocks via exchange links with Hong Kong in March. They also disposed of $14 billion in Chinese government debt over the past two months and trimmed their credit holdings. Betting against China was considered the fifth most-crowded trade in Bank of America Corp.’s most recent survey of investors.

“Markets are worried about China’s ties to Russia—it’s scaring investors and you can see that risk aversion playing out since the start of the invasion,” said Stephen Innes, managing partner at SPI Asset Management. “Everyone was selling China bonds so we’re glad we didn’t buy any.”

Still, divesting from China may not be a straightforward choice. The world’s second-largest economy possesses a $21 trillion bond market and equity bourses valued at $16.4 trillion onshore and in Hong Kong.

Its assets offer diversification for investors, Amundi Singapore Ltd.’s head of investment Joevin Teo said last week, with multi-asset strategies struggling under the threat of inflation and tightening global financial conditions. Some have even called Chinese assets a haven.

“It’s one of the best diversification stories for global funds because of its idiosyncratic nature,” said Lin Jing Leong, senior emerging market Asia sovereign analyst at Columbia Threadneedle Investments, which manages about $754 billion. “Who owns the market, the cycle of China’s growth and inflationary pressures, the low volatility in its currency basket” all help to provide better riskadjusted returns, she added.

Chinese authorities appear to

Gaza. . .

other Arab states on the issue.

Israel has been working to improve relations with Jordan over the past year and has recently normalized relations with other Arab states.

But the latest tensions have brought renewed attention to the unresolved conflict with the Palestinians, which Israel has sought to sideline in recent years.

The US State Department urged all sides to “exercise restraint, to avoid provocative actions and rhetoric, and preserve the historic status quo” at the holy site. Spokesman Ned Price said US officials were in touch

with counterparts across the region to try and calm tensions. UN Security Council scheduled a closed-door meeting on the tensions for Tuesday.

In Israel, an Arab party that made history last year by joining the governing coalition suspended its participation on Sunday—a largely symbolic act that nevertheless reflected the sensitivity of the holy site, which is at the emotional heart of the century-old conflict.

Israel captured the West Bank, along with the Gaza Strip and east Jerusalem—which includes the Old City—in the 1967 Mideast war. The

By Sofia Horta e Costa & Tania Chen | Bloomberg Opinion

A

growing list of risks is turning China into a potential quagmire for global investors.

The central question is what could happen in a country willing to go to great lengths to achieve its leader’s goals. President Xi Jinping’s friendship with Russian leader Vladimir Putin has made investors more distrustful of China, while a strongman narrative is gaining momentum as the Communist Party doggedly pursues a Covid-Zero strategy and unpredictable campaigns to regulate entire industries.

continued from A12

ters, have condemned its actions at the mosque. Jordan—which serves as custodian of the site—summoned Israel’s charge d’affaires on Monday in protest.

Jordan’s King Abdullah II discussed the violence with Egyptian President Abdel Fattah el-Sissi, agreeing on “the need to stop all illegal and provocative Israeli measures” there, according to a statement. Jordan planned to convene a meeting of

be taking steps to appeal to global funds. Regulators last month promised to ensure policies are more transparent and predictable—key sticking points for investors who lost trillions of dollars in 2021 due to Beijing’s crackdown on tech and tutoring firms. China is also making compromises that may grant American regulators partial access to audits of US-listed Chinese companies.

While Wall Street giants such as JPMorgan Chase & Co. and Goldman Sachs Group Inc. are rushing to take full ownership of their China ventures, some companies are divesting.

In March, Germany’s Fraport AG sold its stake in Xi’an Airport to a local buyer, ending a 14-year stint in China. The airport operator said it decided to exit the Chinese market after struggling to expand its business. Fraport also owns a share of St. Petersburg airport in Russia, which it’s currently unable to sell.

Others are preparing for China’s decoupling from the West. Selfdriving technology startup TuSimple Inc. is considering spinning its China operations off into a separate entity, following American authorities’ concerns over Beijing’s access to its data. Oil giant Cnooc Ltd. may exit operations in the UK, Canada and the US due to concerns the assets could be subject to sanctions, Reuters reported last week.

Investment professionals at one American private equity fund in Hong Kong aren’t pursuing opportunities in China as aggressively as before even though prices are far lower, according to a person who asked not to be named discussing internal strategies. Concerns include the difficulty of exiting investments and problems that may arise from a hardening of positions such as US investment bans or a consumer boycott of made-inChina products.

Palestinians seek those territories for a future independent state. Israel annexed east Jerusalem in a move not recognized internationally and is building and expanding Jewish settlements across the West Bank, which it views as the biblical and historical heartland of the Jewish people.

The last serious and substantive peace talks collapsed more than a decade ago. Associated Press writers Ilan Ben Zion in Jerusalem, Omar Akour in Jordan, Fares Akram in Hamilton, Canada; Matthew Lee in Washington and Jennifer Peltz at the United Nations contributed to this report.

A14 Wednesday, April 20, 2022

DOE LOBBIES CABINET FOR OIL EXPLORATION RESUMPTION IN WPS

By Samuel P. Medenilla @sam_medenilla

M

ALACAÑANG said the Department of Energy (DOE) is now pushing for the resumption of oil exploration activities in the West Philippine Sea (WPS), which was suspended earlier this month.

In a virtual press briefing on Tuesday, Acting Presidential Spokesperson Martin M. Andanar disclosed that DOE had made the appeal to the Security, Justice and Peace Coordinating Cluster (SJPCC).

“The DOE already asked the SJPCC to reconsider the decision and to immediately allow the survey,” Andanar said.

“The DOE sought reconsideration on the ground that under international law, a geophysical survey is perfectly legitimate activity in any disputed area,” he added.

He said the SJPCC has yet to act on the appeal of DOE. The SJPCC deferred oil exploration activities in the WPS, citing its possible implications on the country’s national security.

It affected the operation of Pangilinan-led PXP Energy Corp., which was contracted by the government to conduct oil exploration activities in the Recto Bank in the WPS. China is currently claiming parts of the WPS, which falls within the country’s Exclusive Economic Zone.

During his talk with Chinese President Xi Jinping earlier this month, President Duterte reiterated the need for the country to come out with a “mutually agreeable framework” with China to settle the territorial issues in the WSP.

MDT commitments cover all PHL assets in SCS–Austin

W

By Rene Acosta

@reneacostaBM

ASHINGTON, for the nth time, has assured Manila that an attack on any assets of the Philippine military and even public vessels in South China Sea are covered by its Mutual Defense Treaty with the Philippines.

The assurance was made by US Secretary of Defense Lloyd J. Austin III during his meeting with Defense Secretary Delfin Lorenzana, who is currently on an official visit in the US. “Secretary Austin reiterated that the US commitment to Philippine security is ironclad, and that US Mutual Defense Treaty commitments extend

to Philippine armed forces, public vessels, and aircraft in the South China Sea,” a read-out of Austin’s meeting with Lorenzana released by the US Department of Defense said.

The meeting between the two leaders was held at the Pentagon on Monday (US time).

Chinese military and paramili-

tary vessels are present in swarming numbers at the Kalayaan Island Group (KIG) and West Philippine Sea (WPS), which Beijing is disputing with Manila.

The Chinese ships prowling Philippine maritime waters in the KIG and WPS or what forms Manila’s exclusive economic zone, have been reported to be harassing Filipino fishermen and even military resupply missions.

During the meeting, Austin and Lorenzana agreed to advance their partnership under the defense treaty by “strengthening commitments through the development of bilateral defense guidelines; enhancing maritime coordination and cooperation through the completion of a bilateral maritime framework; and improving interoperability and information sharing by exercising new capabilities.”

PHL envoy to China Chito Sta. Romana dies in quarantine

By Malou Talosig-Bartolome

‘W

E need to stop thinking only within the term of the sitting President. It is a strategic option for the Philippines to engage China in a way that’s mutually

beneficial. We should have a long-term strategic perspective because time and patience are the best weapons.”

These were part of the concluding remarks by Philippine Ambassador to China Jose Santiago “Chito” Sta. Romana last month as he outlined what may be gleaned forward to improve the diplomatic ties between Manila and Beijing.

It turned out to be Sta. Romana’s farewell speech.

On Monday night, Sta. Romana was found dead inside the hotel where he is undergoing mandatory quarantine in Anhui Province, east of China. He was 74.

The cause of death is still unknown.

“It is with the inconsolable grief of the Secretary and the profound sadness that the Department of Foreign Affairs announces the demise of Philippine Ambassador to China, His Excellency Jose Santiago ‘Chito’ Sta. Romana,” the DFA said in a statement.

Sta. Romana was part of the Philippine delegation led by Secretary Teodoro L. Locsin Jr. who held talks with Chinese State Councilor and Foreign Minister Wang Yi in Tunxi, Anhui Province last April 4.

A high-ranking source told BusinessMirror that Sta. Romana had to undergo 21-day quarantine at a hotel in Anhui.

Local and foreigners who travel within China are required to undergo quarantine before they can re-enter Beijing, and this—not because he tested positive for Covid-19—explained why he was in quarantine.

Another source said he had a heart attack. Chinese Foreign Minister Wang Wenbin only mentioned that the Philippine envoy died “due to an illness.”

“The Philippine Embassy in Beijing is coordinating with the Chinese authorities in effecting the immediate repatriation of Ambassador Chito’s remains,” the DFA said, while the Chinese Foreign Ministry said they will “provide every convenience possible” for the repatriation of his remains.

A veteran broadcast journalist who lived and worked in China for more than three decades, Sta. Romana covered the Tiananmen protests and crackdown in 1989 and saw the economic rise of China in 1990s. He worked as a producer and later as Beijing bureau chief of ABC News, and won an Emmy award for the special millennium report, “Midnight in Shanghai.”

The US and the Philippines concluded more than a week ago their annual military exercise Balikatan in Central and Northern Luzon, which the Armed Forces of the Philippines said was the biggest in the history of the bilateral exercise.

The war games, held under the ambit of the US-Philippines Mutual Defense Treaty, was joined by more than 8, 000 Filipino and American troops.

Austin and Lorenzana affirmed the “enduring nature” of the alliance and the importance of ensuring peace and stability in the South China Sea. “The Secretaries closed the meeting by reiterating their commitment to supporting the security, stability, and prosperity of the Indo-Pacific, and to ensuring the alliance remains capable and is based on shared interests and values,” the readout said.

Bora, El Nido top picks for WTTC delegates

B

STA. ROMANA

A student activist, he was one of the first Filipinos to visit China in 1971 as head of a Filipino youth delegation invited by the China Friendship Association. What was supposed to be a three-week trip stretched to 37 years in “exile” to China during the Philippine martial law years.

Former CNN Beijing bureau chief Jaime FlorCruz, fellow former student activist who also went to exile in Beijing, said he grieves for the loss of “a dear friend, a bff.”

“Our ambassador Chito Sta. Romana will be remembered for helping steer the fragile bilateral relations with his calm and steady hands. He leaves behind a distinguished career as a China hand and diplomat. He knew China inside out. He showed charisma and patriotic pride tempered with humility and humanity. Most of all, Chito’s heart had always been in the right place. He kept the best interest of our country and people in his endeavors. I know he had been guided by that core mission in the more than 50 years I’ve known him,” FlorCruz said in a message to BusinessMirror.

I learned with profound sadness of the passing of Philippine Ambassador to China, His Excellency Jose Santiago ‘Chito’ Sta Romana. I extend my deepest condolences to the Ambassador Chito’s family and friends, the Department of Foreign Affairs and the government of the Philippines,” Chinese Ambassador to Manila Huang Xilian said in a Facebook post.

“Ambassador Jose Santiago L. Sta. Romana is well known for his profound knowledge of China. He worked and lived in China for many years and was our old friend and good friend. After assuming the post of the Philippine Ambassador to China in 2017, he worked actively and industriously, making important contributions to promoting bilateral relations and friendship between our two peoples. We are deeply grieved by the loss of a good friend and extend our heartfelt condolences to his loved ones,” Wang Wenbin said in a statement.

Continued on A5

ORACAY Island and El Nido are among the most popular destinations that will be visited by delegates to the World Travel & Tourism Council (WTTC) Global Summit in Manila from April 20 to 22.

According to the event program on the WTTC web site, the post-event tours to Boracay and El Nido are almost fully booked, with the two destinations having received consistent recognition from many international travel publications and online tourism sites. The Department of Tourism (DOT) has just cited Boracay for overtourism during the Lenten break. (See, “Boracay breaches carrying capacity for tourists on Maundy Thursday, Good Friday — DOT,” in the BusinessMirror, April 18, 2022.)

Other choices available to delegates for post-event tours starting April 23 include a day tour to Quezon for a culinary experience; a culinary, art, and eco-day tour to the Rizal province; a culture and heritage tour to Bataan; an investment tour to the Clark Freeport zone and Tarlac; a nature and adventure trip to Davao; a health and wellness tour in Tagaytay and Batangas; and a trip to the Ilocos region. Most of the post-event trips will be for four days and three nights.

Tourism Secretary Bernadette Romulo Puyat has repeatedly pointed out to foreign markets that the Philippines has the “easiest” inbound travel regulations. The country reopened on February 10 to fully vaccinated travelers from visa-free countries, and on April 1 for those who need visas to come here.

“We are proud to say that our entry requirements are delivered in a simple format, without the need for facilitybased quarantine primarily for fully vaccinated visitors. Tourists are allowed to travel to all reopened tourist destinations in the country as long as they comply with the requirements from the local government units with jurisdiction over these areas,” she stressed.

Entry protocols for participants

GOVERNMENT only requires inbound travelers to submit a negative result from an RT-PCR test taken within 48 hours of departure from the country of origin, or a negative result from a laboratory-administered antigen test taken 24 hours before departure. Travelers are no longer required to quarantine upon arrival, but need to present their vaccination certificate or cards.

Dr. Paulo Tugbang, lead for the health and safety committee for the WTTC, told the BusinessMirror the same protocols will apply to delegates arriving from abroad.

Continued on A5

Companies

Editor: Jennifer A. Ng

Wednesday, April 20, 2022

B1

Foreign firms acquire telco towers of PLDT for ₧77B

P

By Lorenz S. Marasigan

@lorenzmarasigan

LDT Inc. scored a higher valuation for its towers with two tower companies (towercos) agreeing to pay a total of P77 billion to acquire almost 6,000 of the telco’s existing towers and passive infrastructure.

From pegging the valuation of its tower assets at “north of P50 billion” PLDT was able to fetch P77 billion for the sale of its towers, a 54-percent markup. The towers were also sold significantly higher than their P23-billion book value.

The telco branded the transaction, which involved Smart Communications Inc. and Digitel Mobile Philippines Inc. as well as the edotco Group and EdgePoint Group, as the “largest ever acquisition of assets in the Philippines by international investors.”

Of the 5,907 towers being monetized, 2,973 towers located primarily in Luzon, Visayas and Mindanao will be acquired by edotco Group and 2,934 towers located in Luzon by EdgePoint Group.

“In many ways, the valuation tracks the valuations that were realized already in certain Southeast Asian countries. Albeit, if you were to look at it at a price per tower, we’re slightly ahead of the price per tower in Indonesia,” PLDT Chairman Manuel V. Pangilinan said during a press briefing.

Based on a company presentation, PLDT’s towers were sold at P13 million per tower a bit higher than the P12.6 million per tower valuation in Indonesia.

“On average, we reached P13 million per tower, partly on the back of the good condition of our towers that are subject matter of the sale partly because of the credit standing of PLDT and we have good financial advisers I think. The timing was perfect and also this is the first ever tower sale to be achieved in this country. It had the benefit of a first mover advantage,” Pangilinan said.

Proceeds of the sale will be used to fund debt financing, capital expenditures, and special dividend payouts.

Lease agreement

As part of the transaction, PLDT entered into P7-billion per year Master Services Agreements with the towercos, allowing the company to lease the sold towers for 10 years.

The telco was also able to negotiate discounts per additional colocator, say for instance rival Globe or challenger Dito, to the towers.

PLDT started the bid for half of its tower portfolio in November 2021.

“This transaction presents a highly strategic acquisition for edotco as it diversifies and strengthens our pan-Asian platform with exposure to a nascent, high-growth market with strong governmental support,” Adlan Tajudin, CEO of edotco Group, said.

“With an established platform in the Philippines, edotco can play an instrumental role in developing the nation’s digital economy infrastructure while accelerating its organic and inorganic growth strategy.”

For his part, Suresh Sidhu, CEO of EdgePoint, said the group invested in the towers given the “tremendous potential” of the local telecommunications sector.

“We are committed to building a world class operation to expand next-generation connectivity solutions, bridging the digital divide in the Philippines and creating new job opportunities in the sector. The Philippines telecoms sector has tremendous potential, and we look forward to being part of its future,” Sidhu said.

The two groups, which are now considered the largest towercos in the Philippines, also agreed to build an additional 1,500 new towers through 2030.

Supporting govt initiatives

According to Pangilinan, the sale of some of the tower assets of PLDT also supports the government’s initiative in “increasing tower density” by enabling other telecom players to co-locate to the towers.

National Telecommunications

Commission (NTC) Commissioner Gamaliel A. Cordoba welcomed the “landmark” deal, saying that it frees up “more inevitable funds available for other critical operating components for telcos and ISPs, as they realize the economies that infrastructure sharing will offer.”

“The edotco Group and the EdgePoint Group will bring global best practices and technologies in operating telco tower infrastructure nationwide and is a much-awaited development for NTC since it would translate into better connectivity for telco subscribers and ensure higher resilience and faster recovery from typhoons and other calamities.”

For his part, Department of Information and Communications Technology (DICT) Secretary Emmanuel Rey R. Caintic said the deal “is a transformative step, bringing the common tower industry in the Philippines from a nascent industry to a mature one as it will make available to other telecoms companies and ISPs a total of 5,907 operating towers nationwide plus additional 1,500 new towers that will be built by the tower companies.”

“This transaction is a triumph of the DICT’s policy promoting the sharing of telecom infrastructure through the establishment and use of common towers by the telecoms companies and internet service providers (ISPs),” Caintic said.

The deal will be closed from May through December on a staggered basis as PLDT transitions its operations from owner and operator to lessor of the tower assets.

Raslag seeks nod for solar project R

aslag Corp., a solar power provider owned by the Nepomuceno Group of Companies based in Pampanga, is asking the regulators to approve its application to develop, own, and operate a dedicated pointto-point transmission facility for its 18megawatt (MW) Raslag-3 solar power project.

The output of Raslag-3 will be injected to the grid via an interim connection to the 69kV Mexico-Clark Line 1 of the National Grid Corporation of the Philippines (NGCP). The connection will then be transferred to the 69kV Clark-Mabiga Line 1 once the said NGCP line is completed.

In its application filed with the Energy Regulatory Commission (ERC), the company said that since Raslag-3 is 2.4 kilometers from the NGCP line, a switching station will be constructed near NGCP’s Tower 69 as the proposed tapping point. From the plant, “a 3phase, 336-MCM ASCR wires will run through 50 units of 60-footer poles up to the connection point.” Raslag proposed that the dedicated point-topoint facility will be owned, operated and used exclusively by Raslag. It said that the proposed 2.4km dedicated point-to-point facility is the most economical and technically feasible solution to connect Raslag-3 to the grid since the NGCP-operated Mexico substation is located 21.1 km away while the Clark substation is 11.8km away.

Raslag announced last week that it is scheduled to energize Raslag-3 on May 2. “Raslag is urgently praying for an authority to develop and own a dedicated point-to-point limited transmission facility to connect Raslag-3 to the grid” so it can provide a much needed boost to energy security as this is the period when yellow and red alerts are historically issued by NGCP. Also, the solar power project can help stabilize power supply in Luzon before the May elections. Lenie Lectura

ISUZU GENCARS BIDS FAREWELL TO IPC PRESIDENT HAJIME KOSO The Isuzu Gencars Group

hosted a despedida dinner for outgoing Isuzu Philippines Corporation (IPC) President Hajime Koso on April 18, 2022 at Hai Shin Lou Restaurant in Makati City. Koso, who started his career with Isuzu in 1980, became IPC president on April 27, 2015, and has been very supportive of the Gencars Group throughout his 7-year tenure. Top photo shows (seated, left to right) Hiroto Nakaguro, Assistant Division Head, IPC; Lerma Nacnac, President, Isuzu Gencars; Hajime Koso, President, IPC; D. Edgard A. Cabangon, Chairman, Isuzu Gencars; Sharon Tan, and Yasuhiko Oyama, Vice President, Sales Division of IPC posing for a souvenir photo. They are joined by (standing, left to right) Dannica Cabangon, Evangeline Garcia,

General Manager, Isuzu Gencars San Pablo; Jerin Guevara, General Manager, Isuzu Gencars Batangas; William Abril, General Manager,Isuzu Gencars Sta. Rosa; Elenita Go, Sales Executive,Isuzu Gencars Makati; Albert

Zata, Vice President – Sales and Marketing; and Giannina Cabangon, Special Assistant to the President. Bottom photo shows Koso and Cabangon sharing a light moment during the despedida dinner.

PAL announces tie-up with Singapore agency

Photo from www.philippineairlines.com

F

lag carrier Philippine Airlines (PAL) and the Singapore Tourism Board (STB) have partnered to promote air travel between the Philippines and Singapore, with a ranking Singaporean official saying that the Philippines is a key market for the city state.

During a press briefing on Tuesday, PAL President Stanley K. Ng and STB Chief Executive Keith Tan signed a memorandum of understanding to provide PAL passengers with exclusive “boarding pass privileges” including deals and perks across Singapore’s tourist attractions.

“The Philippines is a key and important tourism market for Singapore and strong flight connectivity between both our countries is really important for us both for tourists and business travelers,” Tan said.

He said that in 2019, Singapore recorded a record number of travelers from the Philippines to 830,000 visitors, and is hoping to “reintroduce” Singapore to the Filipino traveler through its partnership with PAL. Tan noted that this partnership

is a step closer to Singapore’s goal of bringing its tourism industry back to normal.

“Philippine Airlines is thrilled to partner with Singapore, a destination known the world over. With two daily PAL flights to Singapore and drawing from over eight decades of service in being part of the journeys of countless Filipinos, PAL is excited to explore and create unique opportunities for Filipino travelers to experience Singapore,” Ng said.

The Philippines is Singapore’s 7th tourism market.

“With this partnership, we are really looking forward [to seeing] that this [route] can recover soon. We’re looking at adding a third...and by the fourth quarter, we’re looking at going back to the pre-pandemic level of four flights,” Ng said.

Singapore is making it easier for Filipinos to visit the city state.

It allows fully-vaccinated travelers to “enjoy a streamlined travel process, requiring only proof of vaccination, a pre-departure Covid-19 test, and a simple Singapore Arrival Card.” Lorenz S. Marasigan

ACEN sells power barge for ₧39.2M

A

C Energy Corp. (ACEN) has sold its power barge for P39.2 million to SPC Power Corp.

ACEN and SPC executed on April 19 the deed of absolute sale for the power barge, a 4x8MW oil-fired diesel power barge and is currently decommissioned in Lapu Lapu City.

“With the sale of the currently decommissioned PB103, ACEN will reinvest the process from the sale in its renewable energy projects,” said ACEN, adding that the sale is a “rebalancing”

move of the company’s portfolio “to focus on renewable energy”.

PB103 will “provide” SPC with “additional assets in the form of critical spare parts for use on its existing similar facility”.

“The Company will have continuous availability of critical and regular spares for maintenance which will result to stable operations of existing assets and sustained supply of power in the area of responsibility,” SPC said separately. Lenie Lectura

B2

Companies BusinessMirror

Wednesday, April 20, 2022

Max’s Group swings to profit despite tough dine-in rules

M

By VG Cabuag

@villygc

ax’s Group Inc., a casual dining restaurant operator, said it managed to swing back to profitability last year with a net income of P450.98 million, a reversal of the previous year’s loss of P1.68 billion.

Revenues, which comprise restaurant sales, commissary sales, franchising and other revenue, reached P7.63 billion, 7 percent higher than the previous P7.14 billion.

“2021 proved to be a milestone year for the group as it successfully navigated through a difficult year and managed to reverse the significant losses incurred in 2020, while at the same time

transforming its business model to move beyond being just restaurant operators and enter into adjacent industries, establishing ourselves as manufacturers, merchants, and distributors,” Max’s President Ariel Fermin said.

“Our transformation was fast and agile. We did not waste the opportunity that this pandemic gave us. We have successfully remastered our fundamentals,

strengthened our core, and revolutionized our business model.

MGI is ready and cautiously optimistic for the coming year,” he said.

The company said its fourth quarter system-wide sales, comprised of sales generated by both company-owned and franchised stores, grew 29 percent to P3.9 billion from the previous year’s P3.01 billion.

It said the sales were at 70 percent of 2019 figures, which it achieved despite dine-in constraints still in effect, and with two core brands, Max’s and Pancake House, being more dine-independent in terms of respective business models.

For the full year, sales of its restaurants rose 15 percent to P12.52 billion.

This increase in sales was also boosted by a faster recovery of the group’s international business

which posted a 33-percent growth from the previous year.

The group’s delivery sales rose by half from the previous year and already more than double 2019’s pre-pandemic delivery sales level.

“We eagerly anticipate the full realization of efficiencies executed throughout the last 24 months as well as the new businesses that the group has entered into as we continue to transform ourselves from purely restaurant operators, to manufacturers, merchants and distributors,” Robert Trota, the company’s CEO, said.

“Adjacent industries that we have ventured into during the pandemic will further increase the value we provide to our shareholders.”

As of end-2021, the company has a store network in 14 territories, with 600 in the Philippines and 60 stores situated across various locations in North America, the Middle East and Asia.

Napocor plans to boost power capacity S tate-run National Power Corp. (Napocor) is aiming to further expand power capacity additions and transmission lines in off-grid areas in the country by the end of Duterte’s term.

Napocor Officer-In-Charge Senior Vice President and Chief Operating Officer Melchor Ridulme told Finance Secretary and Napocor Board Chairman Carlos G. Dominguez III that they are targeting to increase the number of Small Power Utilities Group (SPUG) plants to 296 to cover 240 missionary or off-grid areas

by June

this year. Ridulme said Napocor currently operates 285 SPUG plants in 229 missionary areas in the country.

“The Napocor plans to expand capacity additions in missionary areas to 106.58 megawatts (MW) and its transmission lines to 1,125.46 circuit kilometers, along with increasing substation capacity to 225 megawatts by June 2022,” Ridulme said in his report.

In the last five years under the Duterte administration, the agency ramped up its power capacity additions by more than six-fold to 88.53 MW as of December 2021 from 13.66 megawatts in 2016, Ridulme said.

Apart from its, it has also added 321.5 circuit kilometers of transmission lines in missionary areas, bringing the total existing transmission lines as of December 2021 to 1,097.6 circuit kilometers.

From 41 SPUG plants operating 24 hours in 2016, the Napocor now also has 82 SPUG plants operating

round the clock. It also increased the transformer capacity of its substations serving missionary areas from 170 megavolt amperes (MVA) in 2016 215 MVA as of December 2021.

Under Republic Act (RA) No. 9136, or the Electric Power Industry Reform Act (EPIRA), the Napocor is responsible for providing power

generation and its associated power delivery systems in areas that are not connected to the transmission system. Missionary electrification projects are funded from the revenues from sales in the missionary areas and from the universal charge to be collected from all electricity end-users. Bernadette D. Nicolas

mutual funds

April 19, 2022

NAV

One Year Three Year

Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

224.24

7.63%

-4.92%

-3.23%

-3.8%

ATRAM Alpha Opportunity Fund, Inc. -a

1.5006

16.29%

-1.96%

0.43%

-9.83%

-8.7%

-5.85%

-4.14%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7427 1.27%

-7.32% n.a.

-1.82%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6892 1.71%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1036

-7.21% n.a.

-10.6%

First Metro Save and Learn Equity Fund,Inc. -a

8.29%

5.0432

First Metro Save and Learn Philippine Index Fund, Inc. -a MBG Equity Investment Fund, Inc. -a

10.31%

-2.52%

-0.9%

-2.69%

0.7525

14.07%

-4.64%

-4.29%

-12.16% n.a.

-8.78%

86.14

-11.03%

PAMI Equity Index Fund, Inc. -a

46.1026

7.72%

-3.65%

-1.77%

-4.21% -3.86%

Philam Strategic Growth Fund, Inc. -a

481.35

7.41%

-3.67%

-1.94%

Philequity Dividend Yield Fund, Inc. -a

1.358

24.06%

1.37%

1.41%

0.13%

Philequity Fund, Inc. -a

35.4854

10.68%

-2.59%

-0.47%

-3.03%

Philequity MSCI Philippine Index Fund, Inc. -a

-3.9% n.a.

-3.04%

Philequity PSE Index Fund Inc. -a

4.7787

9.04%

-2.9%

-1.08%

-3.67%

Philippine Stock Index Fund Corp. -a

794.46

0.9128

8.37%

9.84%

-3.02%

-1.15%

-4.11%

Soldivo Strategic Growth Fund, Inc. -a

0.7167

7.87%

-8.06%

-4.03%

-4.77%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6011

8.49%

-5.55%

-2.4%

-4.62%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a

0.9049

8.02%

-3.33%

-1.41%

8.01%

-3.54%

-0.2%

-3.3%

United Fund, Inc. -a

3.3237

-3.93%

-4.19%

Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a

1.1568

Philippine Stock Index Fund Corp. -a

969.29 n.a. n.a. n.a. n.a.

13.12% n.a. n.a.

-0.51%

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c

107.1885

8.96%

-2.75%

-0.72%

-3.85%

Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $1.0083

-20.59%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.6529

-1.02%

1.61%

-10.49%

-5.93%

8.55%

8.59%

-10.48%

Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a

1.6249

-0.19%

-1.67%

-1.44%

ATRAM Philippine Balanced Fund, Inc. -a

2.2097

2.66%

-1.36%

-0.99%

-3.15%

5.66%

0.18%

0.74%

-2.01%

First Metro Save and Learn Balanced Fund Inc. -a 2.6369

-3.97%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2056

9.54% n.a. n.a.

NCM Mutual Fund of the Phils., Inc. -a

1.9712

3.99%

1.09%

1.09%

PAMI Horizon Fund, Inc. -a

3.6432

2.84%

-0.08%

Philam Fund, Inc. -a

16.3276

2.81%

-0.33%

-0.19%

-3.07%

Solidaritas Fund, Inc. -a

2.0732

4.08%

-0.93%

-0.38%

-2.27%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5253 4.53%

-2.63%

-0.89%

-3.34%

Sun Life Prosperity Dynamic Fund, Inc. -a

-1.29%

-0.34%

-3.08%

0.9248

11.05%

-0.1%

-1.63%

-2.26% -3.24%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a

0.9446

-1.2%

-1.52% n.a.

Sun Life Prosperity Achiever Fund 2038, Inc. -a

0.8995

3.94%

-3.08% n.a.

-4.57% -4.76%

Sun Life Prosperity Achiever Fund 2048, Inc. -a

0.8886

4.58%

-3.41% n.a.

-4.85%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a

$0.03478

-8.71%

-1.14%

-0.37%

$0.9999

-12.34%

-0.08%

1.19%

-6.3%

-7%

5.29%

5.81%

-9.62%

1.24%

2.04%

-9.09%

PAMI Asia Balanced Fund, Inc. -b

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.3399

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.0896 -8.07%

-8.33%

Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a

373.76

0.93%

2.44%

-0.14%

ATRAM Corporate Bond Fund, Inc. -a

1.8876

0.1%

0.13%

Cocolife Fixed Income Fund, Inc. -a

3.2404

0.64%

2.43%

3.58%

-0.11%

Ekklesia Mutual Fund Inc. -a

2.2112

-1.73%

0.82%

1.14%

-1.79%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4167 -0.49%

-0.38%

Philam Bond Fund, Inc. -a Philam Managed Income Fund, Inc. -a

-1.17%

2.44%

0.15%

2.36%

1.83%

4.2879

-3.62%

2.17%

1.21%

-2.45%

1.316

-0.1%

3.25%

2.78%

-0.24%

Philequity Peso Bond Fund, Inc. -a

3.9263

-0.73%

2.97%

2.49%

Soldivo Bond Fund, Inc. -a

1.0133

-1.31%

3.38%

1.91%

-1.45%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1613

-0.44%

3.19%

3%

-0.82%

Sun Life Prosperity GS Fund, Inc. -a

1.7128

-1.12%

2.4%

2.31%

-1%

-1.03%

Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a

$483.56

ALFM Euro Bond Fund, Inc. -a

0.07%

2.13%

2.04%

-1.23%

Є215.2

-2.1%

-0.11%

0.39%

-2.19%

$1.0972

-6.78%

-2.01%

-0.36%

-8.86%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0248 -4.25%

-0.53%

-0.08%

-4.62%

PAMI Global Bond Fund, Inc -b

ATRAM Total Return Dollar Bond Fund, Inc. -b

-11.58%

-4.22%

-2.77%

-8.99%

$2.2984

-7.3%

0.67%

0.83%

-8.27%

$0.0611478

$0.9309

-2.35%

1.72%

1.43%

-1.84%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.8471 -9.25%

-1.34%

-0.75%

-10.92%

Philam Dollar Bond Fund, Inc. -a Philequity Dollar Income Fund Inc. -a

Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a

131.63

1.31%

2.46%

2.53%

First Metro Save and Learn Money Market Fund, Inc. -a

1.0612

1.04%

1.73% n.a.

Sun Life Prosperity Peso Starter Fund, Inc. -a,1

1.54%

2.32%

1.3217

2.5%

0.34% 0.33%

0.46%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0624

0.64%

1.26% n.a.

0.17%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

45.5985 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.3175

6.77% n.a. n.a.

-4.73%

Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

$0.9001

-9.99% n.a. n.a.

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago.

c - Listed in the PSE.

-7.21%

d - in Net Asset Value per Unit (NAVPU).

1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.).

2 - Adjusted due to stock dividend issuance last November 25, 2021.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

April 19, 2022

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALs

BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE PHIL STOCK EXCH

129.8 12.16 99.4 26.9 7.98 53.6 19.16 56 90.1 19.48 106.8 83.9 1.94 3.71 2.24 0.85 0.295 954 201

130 12.18 99.8 26.95 7.99 54 19.18 57.2 107.9 20.1 106.9 84 2.06 3.86 2.8 0.9 0.325 1,018 202

131.5 12.16 97.9 26.8 8 54.25 19.1 57.2 107.9 19.3 106.4 84 1.9 3.7 2.22 0.85 0.3 1,000 202

132.5 12.16 99.85 26.95 8.06 54.7 19.18 57.2 107.9 19.4 107.2 84.6 2.07 3.86 2.22 0.85 0.3 1,018 202

129.8 12.12 97.9 26.8 7.97 53.6 19.1 56 107.9 19.3 106 83.9 1.9 3.7 2.22 0.85 0.3 1,000 202

129.8 12.16 99.8 26.9 7.99 53.6 19.16 56 107.9 19.4 106.9 83.9 2.06 3.86 2.22 0.85 0.3 1,018 202

2,204,530 457,600 1,326,710 27,000 125,300 1,735,860 86,000 2,990 100 1,500 101,720 48,500 71,000 16,000 5,000 69,000 20,000 50 120

288,352,040 5,557,738 132,003,749.50 725,340 1,001,771 93,551,732.50 1,646,890 169,228 10,790 29,020 10,868,545 4,073,494.50 141,970 59,360 11,100 58,650 6,000 50,540 24,240

INDUSTRIAL

-1,387,927 4,634,478 32,510,708.50 -26,509 -66,534,359 -189,640 -28,028 0 2,249,977 2,805,404 -

AC ENERGY 8.41 8.42 8.35 8.45 8.33 8.41 10,279,700 86,367,973 ALSONS CONS 1.01 1.03 0.99 1.03 0.99 1.03 84,000 83,200 ABOITIZ POWER 35 35.05 35.5 35.5 35 35 1,670,100 58,744,965 BASIC ENERGY 0.4 0.41 0.4 0.41 0.395 0.41 3,660,000 1,470,650 FIRST GEN 25.1 25.2 25.1 25.2 24.95 25.2 555,400 13,985,680 FIRST PHIL HLDG 69.95 70.6 70 70.6 70 70.2 7,060 497,433.50 MERALCO 357 360 362 367 357 357 212,570 76,576,774 MANILA WATER 19.2 19.3 19.58 19.58 19.12 19.2 819,600 15,860,276 PETRON 3.29 3.3 3.3 3.32 3.29 3.3 396,000 1,306,030 PETROENERGY 4.88 5.05 5.1 5.25 4.65 4.65 62,900 320,843 PHX PETROLEUM 9.94 10.2 10.22 10.22 10.2 10.2 5,100 52,022 SYNERGY GRID 12.44 12.48 12.42 12.6 12.32 12.44 830,500 10,373,880 PILIPINAS SHELL 17.5 17.56 17.42 17.54 17.4 17.5 1,666,600 29,164,772 SPC POWER 14.3 14.34 14.42 14.6 14.2 14.3 266,300 3,823,860 SOLAR PH 1.77 1.78 1.8 1.81 1.77 1.78 16,244,000 28,977,620 AGRINURTURE 4.64 4.65 4.76 4.83 4.65 4.65 1,714,000 8,198,100 AXELUM 2.45 2.5 2.5 2.52 2.42 2.5 273,000 672,210 CENTURY FOOD 22.75 23 23.4 23.4 22.5 23 428,200 9,833,565 DEL MONTE 14.3 14.38 14.38 14.38 14.38 14.38 500 7,190 DNL INDUS 7.48 7.49 7.37 7.49 7.3 7.49 671,700 5,012,146 EMPERADOR 17.02 17.1 17 17.3 16.8 17.02 3,241,800 54,829,220 SMC FOODANDBEV 62.2 62.7 62.8 62.8 62.05 62.6 586,230 36,412,340.50 FIGARO COFFEE 0.56 0.57 0.58 0.58 0.56 0.57 3,483,000 1,972,620 ALLIANCE SELECT 0.56 0.57 0.58 0.58 0.56 0.56 172,000 97,880 FRUITAS HLDG 1.1 1.12 1.1 1.13 1.1 1.12 2,009,000 2,236,140 GINEBRA 104.5 104.7 105.7 108 104.7 104.7 20,330 2,144,456 JOLLIBEE 227.8 228.2 220.4 228 220 228 286,350 64,742,798 KEEPERS HLDG 1.29 1.3 1.22 1.3 1.2 1.3 5,731,000 7,344,510 LIBERTY FLOUR 22.05 24.75 22.55 22.55 22 22 2,900 65,220 MAXS GROUP 6.13 6.26 6.27 6.27 6.02 6.13 74,500 456,081 MG HLDG 0.131 0.135 0.133 0.133 0.13 0.133 1,060,000 139,290 MONDE NISSIN 13.64 13.66 13.32 13.66 13.32 13.66 6,517,800 88,442,368 SHAKEYS PIZZA 8.2 8.4 8.33 8.4 8.2 8.4 300,200 2,512,470 ROXAS AND CO 0.59 0.6 0.6 0.63 0.59 0.59 1,782,000 1,098,320 RFM CORP 4.24 4.3 4.3 4.3 4.3 4.3 54,000 232,200 ROXAS HLDG 1.19 1.25 1.18 1.2 1.18 1.19 291,000 345,620 SWIFT FOODS 0.101 0.108 0.1 0.109 0.1 0.108 3,440,000 350,880 UNIV ROBINA 116.3 117.4 116.3 118 116 117.4 551,280 64,417,296 VITARICH 0.65 0.66 0.66 0.67 0.65 0.65 978,000 643,630 VICTORIAS 2.53 2.8 2.75 2.75 2.75 2.75 12,000 33,000 CONCRETE A 47 48 48 48 47.95 47.95 5,400 259,180 CONCRETE B 50.05 59.95 47 50.05 44.2 50.05 100,240 4,431,920 CEMEX HLDG 0.85 0.86 0.84 0.86 0.84 0.86 530,000 450,160 EAGLE CEMENT 12.96 13.32 13.34 13.34 13.32 13.32 500 6,662 EEI CORP 4.58 4.61 4.59 4.68 4.58 4.61 462,000 2,137,390 HOLCIM 5.56 5.68 5.68 5.68 5.55 5.56 27,600 153,425 MEGAWIDE 5.13 5.15 5.1 5.15 5.05 5.15 105,900 542,762 PHINMA 19.62 19.66 19.62 19.66 19.62 19.66 8,000 157,080 TKC METALS 0.77 0.79 0.77 0.77 0.77 0.77 8,000 6,160 VULCAN INDL 0.96 0.97 0.97 1.01 0.97 0.97 2,319,000 2,279,480 CROWN ASIA 1.79 1.81 1.8 1.8 1.8 1.8 1,000 1,800 EUROMED 1.1 1.17 1.12 1.12 1.12 1.12 1,000 1,120 MABUHAY VINYL 4.28 4.38 4.41 4.41 4.41 4.41 6,000 26,460 PRYCE CORP 5.66 5.67 5.68 5.68 5.66 5.66 120,200 681,583 CONCEPCION 19.4 19.44 19.44 19.44 19.44 19.44 500 9,720 GREENERGY 1.5 1.52 1.51 1.53 1.5 1.52 7,324,000 11,111,320 INTEGRATED MICR 7.61 7.63 7.63 7.7 7.57 7.63 135,600 1,033,934 IONICS 0.72 0.73 0.73 0.73 0.73 0.73 1,000 730 PANASONIC 6.32 6.35 6.31 6.32 6.31 6.32 4,700 29,663 SFA SEMICON 1.13 1.16 1.12 1.18 1.12 1.17 296,000 340,980 CIRTEK HLDG 3.16 3.18 3.16 3.2 3.14 3.18 265,000 842,060

-42,292,673 -2,254,080 -23,850 -419,665 21,761 -32,025,462 -10,613,186.00 -323,400 -773,906 -1,522,500.00 47,790 13,980 -563,845 2,113,126 -16,497,280 -368,047 -71,680 151,246 32,154,328 825,070 2,650 32,107,636 819,310 -223,600 2,564,802 -108,680 -322,630 16,680 368,864.00 71,882 30,200 193,608 -67,600 62,800

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP METRO PAC INV PACIFICA HLDG PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER WELLEX INDUS

13,889,790 -81,009,885 -37,441,505 1,779,894 883,200 60 22,873,211 -30,319,250 0 -13,995,084.50 -13,168,937 -28,567,510 129,420 -36,232,710 -24,400,283 1,140 -

HOLDING & FRIMS

1.1 769 55 12.1 9.2 0.95 0.56 0.56 4.9 8.77 6.97 512 3.6 57.8 0.53 3.03 8.76 3.87 2.58 1.38 0.88 871.5 107.9 114 0.28

1.11 770.5 56.8 12.2 9.23 0.96 0.57 0.57 4.93 8.78 7.14 515 3.78 58.45 0.54 3.2 8.81 3.88 2.92 1.4 0.91 872 108 118 0.3

1.07 770 56.75 12.4 9.2 0.95 0.58 0.57 4.93 8.6 7.14 516 3.6 56.45 0.54 3.2 9 3.89 2.56 1.35 0.88 865 107 114 0.28

1.11 779.5 57.2 12.4 9.21 0.96 0.58 0.57 4.94 8.82 7.14 519.5 3.6 58.7 0.54 3.2 9 3.92 2.56 1.39 0.91 872 108.2 118 0.28

1.06 767 55 12.06 9.2 0.95 0.55 0.57 4.91 8.59 7.14 511 3.6 56.05 0.54 3.01 8.75 3.87 2.56 1.35 0.88 855.5 106.9 114 0.28

1.1 769 55 12.1 9.2 0.95 0.56 0.57 4.92 8.78 7.14 515 3.6 58.45 0.54 3.01 8.76 3.88 2.56 1.39 0.9 871.5 108 118 0.28

34,099,000 200,580 1,138,520 1,205,400 96,900 4,238,000 1,707,000 55,000 140,000 6,975,700 100 100,540 5,000 1,519,200 2,000 5,000 5,728,300 23,275,000 1,000 55,000 146,000 569,580 327,490 110 10,000

37,238,810 154,812,635 63,327,129.50 14,591,028 891,486 4,026,440 959,080 31,350 689,610 60,866,153 714 51,781,430 18,000 87,521,768 1,080 15,810 50,489,983 90,514,280 2,560 76,170 131,240 492,652,790 35,337,634 12,940 2,800

PROPERTY ARTHALAND CORP 0.55 0.58 0.58 0.58 0.55 0.58 45,000 25,560 AYALA LAND 34 34.25 34.1 34.5 34 34 3,767,500 128,604,470 -43,618,565 AYALA LAND LOG 4.76 4.77 4.79 4.8 4.76 4.76 194,000 925,400 -438,760 ARANETA PROP 1.03 1.08 1.03 1.08 1.03 1.08 101,000 104,080 AREIT RT 43.85 43.95 44.5 44.85 43.7 43.95 636,500 27,977,020 1,655,510 A BROWN 0.87 0.88 0.88 0.88 0.87 0.87 36,000 31,480 CROWN EQUITIES 0.09 0.093 0.092 0.094 0.092 0.093 390,000 36,100 CEB LANDMASTERS 2.85 2.86 2.84 2.88 2.81 2.85 1,132,000 3,231,250 -671,920 CENTURY PROP 0.4 0.42 0.41 0.42 0.4 0.42 720,000 298,500 -8,400 CITICORE RT 2.59 2.6 2.59 2.6 2.58 2.6 2,579,000 6,696,050 23,210 DOUBLEDRAGON 8.79 8.8 8.84 8.89 8.76 8.79 74,800 657,850 52,863 DDMP RT 1.56 1.57 1.57 1.58 1.56 1.56 1,201,000 1,877,700 1,560 DM WENCESLAO 6.79 6.8 6.8 6.8 6.79 6.79 17,500 118,925 EMPIRE EAST 0.225 0.23 0.23 0.23 0.225 0.229 150,000 33,960 EVER GOTESCO 0.255 0.265 0.25 0.265 0.244 0.265 3,760,000 967,790 FILINVEST RT 7.33 7.35 7.35 7.36 7.34 7.35 1,230,400 9,043,157 -340,780 FILINVEST LAND 1.06 1.07 1.07 1.07 1.05 1.07 723,000 767,530 -516,340 GLOBAL ESTATE 0.9 0.91 0.91 0.91 0.91 0.91 110,000 100,100 8990 HLDG 13.32 13.52 13.28 13.74 13.2 13.52 837,600 11,222,264 -56,386 GOLDEN MV 633.5 639 629 668.5 629 639 330 211,110 PHIL INFRADEV 0.92 0.96 0.91 0.96 0.9 0.96 39,000 36,140 10,170 CITY AND LAND 0.85 0.87 0.85 0.87 0.84 0.87 283,000 239,570 84,000 MEGAWORLD 2.94 2.95 2.95 2.95 2.91 2.95 6,443,000 18,881,280 2,831,960 MRC ALLIED 0.224 0.225 0.225 0.229 0.225 0.225 20,620,000 4,659,660 -9,240 MREIT RT 17.24 17.26 17.4 17.42 17.26 17.26 2,927,000 50,784,082 -16,573,738 PHIL ESTATES 0.41 0.42 0.41 0.41 0.41 0.41 80,000 32,800 PRIMEX CORP 2.41 2.49 2.49 2.5 2.41 2.41 1,317,000 3,276,360 -380,970 RL COMM RT 7.38 7.4 7.44 7.46 7.33 7.4 5,839,800 43,196,842 -4,328,529 ROBINSONS LAND 19.8 19.9 19.84 19.9 19.8 19.9 808,000 16,036,622 2,963,650.00 PHIL REALTY 0.218 0.238 0.228 0.239 0.228 0.239 550,000 128,460 -7,050 ROCKWELL 1.37 1.44 1.44 1.44 1.44 1.44 10,000 14,400 SHANG PROP 2.51 2.58 2.58 2.58 2.58 2.58 1,000 2,580 STA LUCIA LAND 2.79 2.87 2.77 2.89 2.77 2.89 13,000 36,610 SM PRIME HLDG 37.05 37.25 37.2 37.8 37 37.25 4,528,600 168,733,470 15,144,700 VISTAMALLS 3.15 3.39 3.43 3.43 3.15 3.39 8,000 26,020 SUNTRUST HOME 1.02 1.07 1.05 1.07 1.05 1.07 121,000 127,790 VISTA LAND 2.6 2.63 2.61 2.7 2.59 2.6 2,766,000 7,287,960 -1,352,380

SERVICES ABS CBN 12.76 12.8 12.7 12.8 12.7 12.76 81,000 1,034,586 GMA NETWORK 15.86 15.88 15.72 15.94 15.72 15.88 4,742,000 75,172,510 GLOBE TELECOM 2,472 2,484 2,430 2,510 2,426 2,472 69,920 173,363,980 -31,339,050 PLDT 1,897 1,899 1,900 1,910 1,881 1,899 190,265 360,867,320 -9,985,210 APOLLO GLOBAL 0.046 0.047 0.045 0.047 0.045 0.047 415,800,000 19,053,000 CONVERGE 30.6 30.65 30.15 31.5 30.15 30.6 16,537,000 511,690,465 7,109,020 DFNN INC 2.67 2.7 2.66 2.75 2.57 2.67 144,000 376,000 DITO CME HLDG 4.99 5.01 5 5.05 4.97 5.01 4,878,200 24,416,619 4,592,759 NOW CORP 1.27 1.28 1.29 1.31 1.27 1.27 683,000 881,460 1,310 TRANSPACIFIC BR 0.32 0.325 0.325 0.33 0.325 0.325 1,110,000 360,900 2GO GROUP 7.53 7.55 7.52 7.55 7.52 7.55 21,000 158,266 ASIAN TERMINALS 13.34 13.66 13.5 13.5 13.5 13.5 4,000 54,000 CHELSEA 1.48 1.52 1.54 1.54 1.49 1.52 180,000 272,430 CEBU AIR 46.9 47 46.5 47.45 46.5 47 412,300 19,380,955 555,530 INTL CONTAINER 224.8 225 224 224.8 221 224.8 936,340 209,667,022 48,869,754 LBC EXPRESS 22.7 22.95 22.1 22.7 22.1 22.7 400 8,960 MACROASIA 5.52 5.55 5.62 5.65 5.5 5.55 309,000 1,708,994 -562 PAL HLDG 6.25 6.28 6.28 6.28 6.25 6.25 42,400 265,048 10,622 HARBOR STAR 0.66 0.67 0.65 0.67 0.64 0.67 137,000 89,970 DISCOVERY WORLD 1.8 1.94 1.8 1.8 1.8 1.8 1,000 1,800 WATERFRONT 0.44 0.445 0.435 0.44 0.435 0.44 180,000 78,850 44,000 IPEOPLE 6.7 7.44 7.44 7.44 7.44 7.44 300 2,232 STI HLDG 0.345 0.36 0.35 0.355 0.35 0.35 1,010,000 355,250 -53,250 BELLE CORP 1.26 1.29 1.27 1.3 1.26 1.3 219,000 282,660 5,200 BLOOMBERRY 6.14 6.16 6.18 6.19 6.12 6.14 3,759,500 23,099,676 726,236 PACIFIC ONLINE 1.69 1.8 1.69 1.69 1.69 1.69 10,000 16,900 LEISURE AND RES 1.25 1.29 1.24 1.29 1.24 1.29 2,017,000 2,581,780 PH RESORTS GRP 0.96 0.99 1 1 0.96 0.96 556,000 543,410 39,200 PREMIUM LEISURE 0.46 0.465 0.455 0.46 0.45 0.46 610,000 278,450 4,400 PHILWEB 2.29 2.31 2.31 2.33 2.3 2.31 793,000 1,827,750 -1,119,020 ALLDAY 0.435 0.44 0.43 0.44 0.43 0.44 7,610,000 3,302,450 -43,500 BERJAYA 5.52 5.69 5.53 5.53 5.52 5.52 23,100 127,561 ALLHOME 7.98 8.04 7.94 8.05 7.8 8.01 418,500 3,313,835 871,974 METRO RETAIL 1.4 1.41 1.4 1.4 1.4 1.4 339,000 474,600 PUREGOLD 37.5 37.7 36.3 37.7 36.3 37.7 1,509,400 55,687,215 15,970,075.00 ROBINSONS RTL 55.85 56.6 55 56.9 55 56.6 238,070 13,243,179.50 -1,856,876 PHIL SEVEN CORP 68 68.2 68 68 67 68 104,980 7,135,100 154,700 SSI GROUP 1.12 1.14 1.11 1.14 1.1 1.14 3,371,000 3,828,260 2,844,150 WILCON DEPOT 28.5 29 26.85 29 26.85 29 1,487,700 41,633,760 11,498,470 EASYCALL 4.01 4.44 4.01 4.01 4.01 4.01 5,000 20,050 IPM HLDG 6.65 6.7 6.7 6.7 6.7 6.7 3,000 20,100 MEDILINES 0.81 0.82 0.83 0.84 0.81 0.82 726,000 597,590 PRMIERE HORIZON 0.52 0.53 0.53 0.54 0.52 0.52 1,520,000 802,240 -60,420 SBS PHIL CORP 3.84 3.93 3.84 3.84 3.84 3.84 5,000 19,200

MINING & OIL ATOK 5.62 5.8 5.57 5.8 5.57 5.8 25,600 144,473 APEX MINING 1.72 1.73 1.73 1.74 1.7 1.73 2,438,000 4,187,130 ATLAS MINING 7 7.02 7 7.04 6.95 7 682,400 4,782,192 BENGUET A 7.26 7.4 6.97 7.43 6.97 7.4 218,300 1,611,432 BENGUET B 7.22 7.5 7.34 7.5 7.02 7.5 137,400 1,010,216 CENTURY PEAK 2.7 2.76 2.66 2.76 2.65 2.76 20,000 54,140 DIZON MINES 4.97 5.49 5.25 5.49 5.25 5.49 8,400 44,167 FERRONICKEL 2.83 2.84 2.83 2.85 2.8 2.84 13,245,000 37,414,580 LEPANTO A 0.147 0.148 0.147 0.15 0.147 0.148 5,620,000 833,470 MANILA MINING A 0.01 0.011 0.01 0.011 0.01 0.011 6,300,000 63,200 MARCVENTURES 1.75 1.76 1.7 1.76 1.7 1.76 3,936,000 6,848,660 NICKEL ASIA 8.16 8.17 7.84 8.22 7.83 8.17 18,422,000 149,533,265 ORNTL PENINSULA 0.98 0.99 0.96 0.99 0.96 0.99 1,358,000 1,323,110 PX MINING 5.53 5.54 5.6 5.6 5.4 5.54 792,700 4,376,317 SEMIRARA MINING 30.4 30.45 30.55 30.55 29.5 30.45 1,863,500 56,414,035 UNITED PARAGON 0.0062 0.0064 0.0064 0.0064 0.0064 0.0064 4,000,000 25,600 ACE ENEXOR 16.08 16.2 16.2 16.38 16.08 16.08 100,300 1,617,316 ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.011 18,300,000 202,200 PHILODRILL 0.0092 0.0094 0.0092 0.0093 0.0092 0.0092 19,000,000 175,100 PXP ENERGY 4.73 4.8 4.95 4.95 4.8 4.8 563,000 2,718,610

PREFFERED HOUSE PREF B 99 101 101 101 101 101 130 13,130 AC PREF B2R 505 509 509 509 509 509 10 5,090 CEB PREF 46.5 46.95 46.15 47 46.15 46.95 18,000 841,205 DD PREF 99.3 99.5 99.5 100 99.5 99.5 30,110 3,001,811 MWIDE PREF 2A 93 99.95 93.05 93.05 93 93 90 8,370.50 MWIDE PREF 4 97.5 99.9 100 100 100 100 2,000 200,000 PNX PREF 3B 100 101.7 101.7 101.7 101.7 101.7 200 20,340 PNX PREF 4 975 980 970 982 970 982 50 48,620 PCOR PREF 3A 1,056 1,060 1,060 1,060 1,060 1,060 60,000 63,600,000 PCOR PREF 3B 1,082 1,110 1,082 1,082 1,082 1,082 295 319,190 SFI PREF 1.47 1.96 1.47 1.47 1.47 1.47 2,000 2,940 SMC PREF 2F 76.3 77.9 76.35 76.5 76.3 76.3 13,400 1,022,991 SMC PREF 2I 76.35 77.95 77.95 77.95 77.95 77.95 11,000 857,450 SMC PREF 2J 76 76.5 76.5 76.5 76.5 76.5 10 765 SMC PREF 2K 75.1 75.8 75.8 75.8 75.8 75.8 440 33,352 TECH PREF B2C 52.7 52.95 52.75 52.75 52.75 52.75 1,900 100,225

PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 14.8 14.82 14.8 14.9 14.78 14.8 924,400 13,701,544

WARRANTS TECH WARRANT 0.61 0.66 0.64 0.66 0.63 0.66 161,000 104,000

46,200 -91,738 -139,700 43,500 -6,839,010 -731,800 8,634,576 -98,000 735,734 2,426,485 -85,456 14,700 46,955 -200,000 -11,371,962 51,260

SMALL & MEDIUM ENTERPRISES

ALTUS PROP CTS GLOBAL HAUS TALK ITALPINAS MERRYMART XURPAS

16.18 0.97 1.15 0.89 1.78 0.315

16.48 0.98 1.17 0.9 1.79 0.325

EXHANGE TRADE FUNDS

FIRST METRO ETF

107.5

107.7

16.5 1.07 1.15 0.94 1.78 0.32

16.5 1.1 1.17 0.95 1.79 0.325

16.5 0.96 1.15 0.88 1.75 0.315

16.5 0.98 1.17 0.9 1.79 0.325

3,100 179,543,000 15,000 606,000 956,000 140,000

51,150 183,719,730 17,290 534,170 1,690,340 45,050

49,500 -643,110 -49,470 16,000

107 107.7 107 107.7 16,290 1,748,464 158,151

www.businessmirror.com.ph

Return PCIC management from DOF to DA–solon

By Jovee Marie N. dela Cruz @joveemarie

A

partylist lawmaker on Tuesday appealed to the government to return the management of the Philippine Crop Insurance Corp.

(PCIC) to the Department of Agriculture (DA), saying the former has virtually become a mere reinsurer.

Magsasaka Partylist Rep. Argel Joseph T. Cabatbat issued his appeal after reports revealed the massive damage to agriculture

by Tropical Storm Agaton (Megi).

As of April 17, damage to crops is pegged at P718 million, with over 12,000 farmers affected and 18,000 hectares of farmlands destroyed.

PCIC was placed under the supervision of the Department of Finance (DOF) in September last year by virtue of Executive Order 148. Farmer-representation to the PCIC board was also reduced from three seats to one.

Cabatbat said the losses from Agaton could be easily cushioned if the state’s insurance policy is in line with the DA’s strategies. “[The] PCIC should be responsive to farmers’ concerns and should not be burdened with monetary and fiscal matters, as it is now,” he said.

Recently, the lawmaker said the DOF announced that it is planning to revive plans to convert the PCIC into a reinsurer or privatize the implementing agency of the government’s agricultural insurance program. The DOF believes either option will make farmers’ insurance from private companies more competitive and could cover more planters in the long run.

Cabatbat called each option “a wrong move.”

“This is a time when farmers need [the] PCIC the most,” the lawmaker said. “They are faced with the effects of climate change.

There are more extreme weather conditions coming. Farmers are experiencing frequent losses already from damaged crops due to calamities.”

Cabatbat added that climate change has altered planting and harvest calendars.

“What farmers need now is immediate help in the form of insurance to enable them to recover and plant again.”

Cabatbat said that for the PCIC to absorb all risks at this juncture “is the least they can do for farmers who have contributed so much to the economy and the country’s food sovereignty.”

However, even Agriculture Secretary William D. Dar has said that the transfer of the PCIC to the DOF will make the operations of the agency more efficient in fulfilling its mandate toward providing insurance protection to subsistence farmers and fishermen.

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Wednesday, April 20, 2022

B3

Despite high rates, BTr awards T-bonds

F

By Bernadette D. Nicolas

@BNicolasBM

OR the first time this month, the Bureau of the Treasury fully awarded Treasury Bonds (T-bonds) on offer on Tuesday, allowing it to raise P35 billion despite higher rates.

With a remaining term of six years and 3 months, the T-bonds capped

an average rate of 5.779 percent, higher than the secondary market

benchmarks. This was up by 9.5 basis points than the Bloomberg Valuation Service (BVAL) Reference rates for the 7-year tenor at 5.684 percent. Likewise, it is also higher by 23.8 basis points from the BVAL rate for the security itself at 5.541 percent. The auction was oversubscribed after attracting P47.3 billion in total bids.

National Treasurer Rosalia V. De Leon said investors are still factoring in the recent hawkish signals from the US Federal Reserve to rein in inflation.

Based on reports on the minutes of their March meeting, US Fed offi-

cials are keen on slashing the central bank’s balance sheet by $95 billion a month, a move that will likely start in May. Apart from the balance sheet reduction, “many participants” at the Fed’s meeting” reportedly prefer a 50-basis point hike.

“Rates higher with more hawkish Fed pivot with increasing calls for half-point hike to tame hot US inflation,” De Leon told reporters in a message following Tuesday’s auction.

The Treasury programmed to raise P200 billion from the domestic debt market this month. Since the start of the month, the Treasury has so far sold P131.8 billion.

Last March, the Treasury raised only P91.7 billion, a third of its P250billion programmed offering as investors demanded higher bid rates as the Russia-Ukraine war entered its 50th day and the Fed continued to address US inflation.

This year, the government is set to borrow a total of P2.2 trillion, of which around 75 percent is expected to come from domestic sources.

As of end-February this year, the national government’s outstanding debt rose to another record-high level of P12.09 trillion due to currency fluctuations and net financing from both domestic and foreign sources.

AIA CEO sees ‘worst is over’ for insurance sector, rosy outlook for 2022

E

XECUTIVES of AIA Philippines Life and General Insurance Co. Inc. and its bancassurance arm BPI AIA Life Assurance Corp. expressed confidence of faster growth figures this year as the economy reopens.

AIA Philippines CEO Kelvin Ang said his optimism is based on two factors: “better management of Covid-19 situation and the country’s

economic recovery.”

“I believe, while there are still risks, there is [now] a lot more certainty in terms of managing that risks, whether is higher vaccination or medicine,” Ang told reporters in a news conference last Tuesday. “Now with that, I think we are more positive about the 2022 outlook.”

Moreover, Ang said the pandemic

also increased the public’s awareness on the importance of health and availing protection from risks through insurance.

BPI AIA CEO Surendra M. Menon agrees with Ang saying he believes there would be less spikes in Covid-19 cases this year compared to 2021.

“I’m very optimistic that the worst is over,” Menon said. “I do

expect that we will be able to grow a lot faster than we did in 2021 with a lot less volatility.”

Both executives also believed their decision to implement a rebranding last year helped attract more customers.

AIA Philippines Chief Marketing Officer Leonardo T. Tan Jr. said they plan to put on board this year mental health services,

home-based care and ambulance ser vices in their spectrum of offerings. Tan added the firms wou ld soon l au nc h a hea lt h wallet and a health identification card.

He said they are eyeing to develop a “local version of global funds” to provide more options for those who want to augment long-term savings plans. Bernadette D. Nicolas

Fed’s Bullard says central bank must move ADB evaluation unit rates quickly, not rule out rate increase of 75bps sovereign ops successful

By Cai U. Ordinario

F

EDERAL Reserve Bank of Saint Louis President James Bullard said the central bank needs to move quickly to raise interest rates to around 3.5 percent this year with multiple half-point hikes and that it shouldn’t rule out rate increases of 75 basis points.

“More than 50 basis points is not my base case at this point,” Bullard said in a virtual presentation to the Council on Foreign Relations on Monday, adding the Fed under Alan Greenspan did such a hike in 1994 leading to a decade-long expansion. “I wouldn’t rule it out, but it is not my base case here.”

Fed Chair Jerome Powell has said that a 50 basis-point increase is possible at the Fed’s May 3-4 meeting.

Comments by colleagues since then have hardened expectations they’ll make that move, as officials extend a hawkish pivot to curb the hottest inflation since 1981.

Bullard repeated he favors an interest rate of about 3.5 percent, citing a version of the Taylor rule, a guideline developed by Stanford University’s John Taylor that uses inflation, the unemployment rate and an estimate of the neutral interest rate—a rate neither contractionary nor expansionary—to come up with his estimate.

The Fed’s new dot plot

“You can’t do it all at once, but I think it behooves us to get to that level by the end of the year,” Bullard said.

The Federal Open Market Committee’s first goal should be getting to a neutral rate soon, Bullard said. The committee estimates that rate at about 2.4 percent.

“We want to get to neutral expeditiously, I guess is the word of the day,” he said, repeating a word used by a number of colleagues. “I’ve even said

briefs

➜ Standard Chartered Bank receives awards

Standard Chartered Plc received top awards at the 2022 PDS Awards hosted by the Philippine Dealing System Holdings Corps and Subsidiaries (PDS Group).

The bank was conferred the Top Corporate Issue Manager/Arranger Award (Bank Category). This award is given to issue managers or arrangers in the corporate fixed income securities market that were the most active for the year as measured by the volume of listed corporate securities where they have acted as lead manager or arranger. The bank likewise received the Top Five Corporate Securities Market Maker Award.

➜ Indonesia holds key rate to support an economy seen slowing

Indonesia’s central bank kept its benchmark interest rate unchanged to support the economy’s flagging recovery, while working with the government to manage price pressures fueled by the Russia-Ukraine conflict. Bank Indonesia held the seven-day reverse repurchase rate at a record low 3.5 percent on Tuesday as expected by all 29 economists in a Bloomberg survey. The key rate was last adjusted in February 2021. “The decision is consistent with the need to maintain

@caiordinario

T

James Bullard Bloomberg News

we want to get above neutral as early as the third quarter and try to put further downward pressure on inflation at that point.”

The Saint Louis Fed official said talk about recession was premature, with the Fed having only raised rates once at this point. He predicted that the U.S. economy would grow at a healthy rate in excess of its long-term trend both in 2022 and 2023, adding he expects unemployment to fall below 3 percent.

Minutes of their March meeting showed many Fed officials favored raising rates by a half point and only opted for the more cautious 25 basispoint move because of the uncertainty around Russia’s invasion of Ukraine.

The account showed officials expect to start shrinking their balance sheet by $95 billion a month, or more than $1 trillion a year, and could announce a decision in May. Governor Lael Brainard said April 12 that could mean roll-

off as soon as June.

A known hawk, Bullard has been favoring faster and more aggressive rate hikes by the Fed. He was the lone dissenter in the 8-1 policy vote in March having favored a 50 basis points move and has also pushed for balance sheet reduction.

That hawkishness is being mirrored by other central banks too. The Bank of Canada and Reserve Bank of New Zealand both this month raised their benchmark rates by 50 basis points— their biggest moves in 22 years—indicating a new sense of urgency among policy makers to rein in inflation.

Bullard’s hawkishness could yet prove to be a defining pivot for Fed policy makers, said Stephen Innes, managing partner at SPI Asset Management.

“The fact that Bullard is talking about a seventy-five basis point hike suggests other hawks are on the same page,” he said. Bloomberg News

exchange rate stability and control inflation, coupled with efforts to revive economic growth despite a build-up of external pressure,” Governor Perry Warjiyo said, citing Russia’s war in Ukraine and faster global monetary policy normalization as risks. Bloomberg News

➜ Credit Suisse’s top China Banker Tu steps aside for new role

Credit Suisse Group AG’s chief executive officer at its securities venture in China is stepping aside after less than two years on the job, becoming the second top executive at a major foreign lender in the nation to quit this month. Tim Tu informed management that he decided to pursue other opportunities within Credit Suisse, according to a memo that was confirmed by a spokeswoman.

Beijing-based Tu intends to relocate to Hong Kong, though his exact new role hasn’t been finalized, said people familiar with the matter who asked not to be named discussing an internal decision. The spokeswoman declined to comment on his next job. Daniel Qiu, who’s head of investment banking and capital markets at the venture, was named interim CEO of Credit Suisse Securities China Ltd., the memo said. Bloomberg News

HE Asian Development Bank (ADB) Independent Evaluation Department (IED) said the majority of the Manila-based multilateral development bank’s sovereign operations were rated successful in the past three years.

The IED said 70 percent of ADB’s sovereign operations between 2019 and 2021 were deemed successful. However, its nonsovereign operations were less successful with only 55 percent given a successful rating.

“The findings showed that although ADB accepted the majority of IED evaluation recommendations, further efforts are needed to narrow the gap between the acceptance of recommendations and their implementation,” ADB Senior Evaluation Specialist and co-author of the report Sung Shin said.

The IED also said overall effectiveness improved to 69 percent in 2019–2021 from 64 percent in 2018–2020. The report stated that this “was largely brought about by the strong effectiveness performance of sovereign operations in 2021.”

However, the IED said the performance of ADB’s sovereign operations between 2019 and 2021 was lower than the 72 percent posted in 2018 to 2020.

IED said this was largely due to “economic benefits that were less than envisaged, implementation delays, and cost overruns, all of which reduced the economic viability of projects.”

“Sovereign project performance in South Asia showed a slight improvement in 2019– 2021, while that in other regions, it either declined slightly or re-

mained the same,” the IED said, nonetheless.

The IED said the report called on ADB to closely align project scopes with financing plans and implementation arrangements as well as establish clear targets and mechanisms to monitor them.

It also pointed out the need for effective implementation of institutional support and targeted reforms for strengthening the executing and/or implementing agency’s capacity to enhance project effectiveness.

The IED also conducted an in‐depth assessment on ADB’s engagement in “fragile and conflict‐affected situations,” or FCAS, and “small island developing states,” or SIDS, which are facing pandemic-related fiscal challenges.

The report underscored the need for more long-term and wellcoordinated support rather than short-term, one-off technical assistance to help address capacity and governance challenges.

It also stressed that giving equal emphasis to active conflict and to institutional fragilities is imperative when implementing ADB’s FCAS-related approaches.

It recommended ADB’s countrylevel and project-level monitoring frameworks and indicators to be better tailored to their contexts.

The report viewed resilience in FCAS and SIDS as a multidimensional challenge that requires ADB’s long-term capacity development support and enhanced collaboration with other development organizations.

ADB’s partnerships with humanitarian and development agencies are crucial in bridging relief and development, especially in conflict-affected areas.

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Show BusinessMirror

Wednesday, April 20, 2022 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Joey Lawrence, 46; Carmen Electra, 50; Jessica Lange, 73; Ryan O’Neal, 81.

HAPPY BIRTHDAY: Stick to what you know and do best. Refuse to let emotional situations influence how you handle your money, health or contractual matters.

Put your energy where it will have the biggest effect and ensure that you maintain a stellar reputation. Choose practicality over risk, and make changes that help you excel instead of limiting what you can do to get ahead.

Your numbers are 9, 17, 24, 26, 34, 43, 47.

SCARED

THIS controversial celebrity is reportedly in hiding— not because he wants to escape from something he’s been accused of but because he allegedly has been receiving death threats. And who would want him dead? The celebrity is reportedly being targeted by a powerful man. The man is close to the celebrity’s former girlfriend. Why would the man want the celebrity dead if this is true? He and the celebrity’s ex were once an item and he still is very protective of her. The ex is said to be someone who is kind, which is why even a former lover still wants to help her even without her asking.

CONFLICT IN THE FAMILY

THE death of a wealthy man is usually cause for strife among his family members, and this man’s demise is not an exception to that. He died and his family, including his siblings and children, seem to have declared his wife persona non grata. It’s not actually because of money because the wife is also wealthy.

What the family resents is how the wife seems to have kept from them details of his health condition when he was still alive. So there’s apparently a prenup and the wealthy man’s fortune is safe.

COMPETITORS

THESE two celebrities have always been pitted against each other for obvious reasons. Both are beautiful and accomplished, and both are in the same field.

They have always denied separately that something is going on. However, there is indeed something going on. The older celebrity is threatened because she sees the younger one as her replacement for endorsements and other jobs. The older celebrity has always been competitive, even with other women, and this is typical behavior for her. The younger celebrity, meanwhile, is more chill but is fully aware of what the older one is up to.

A RIFT PHOTO BY KELLY SIKKEMA ON UNSPLASH

ALL seems to be well between the feisty actress and her lovely daughter—or is it really? According to insiders, the daughter is sore at her mother for so openly cheating on her father with a man who has an unsavory reputation. This alliance is tolerated by the girl’s father provided she is discreet about it but lately, the actress seems to very open about the relationship and her partner seems to be bewildered. Worse, the actress seems to have isolated the guy even from their daughter, who also wants her mother to behave better at least publicly.

ARIES (March 21-April 19): You’ll learn the hard way if you trust someone to do things for you. Take charge of your life, learn all you can and refuse to participate in something questionable.

Patience and prudence will pay off. HHHHH

JOHNNY DEPP (left) and Amber Heard (right)

Johnny Depp, ex-wife had relationship of ‘mutual abuse’

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By Ben Finley The Associated Press

was alone in New York City, and she was crying and walking around the streets,” James said. She said she told Heard to go inside: “I was worried that the paparazzi might take a photo of her.”

Some of the deposition focused on a text message that Depp had sent to James after he and Heard split up. Depp’s text read: “Come over for a spot of purple and we’ll fix her flabby ass nice and good.”

A lawyer asked if “spot of purple” meant wine and whether “her” meant Heard. James said she didn’t want to speculate.

“This is the way he writes,” James said of Depp. “It’s very random and you don’t sort of question it.... He writes in a very abstract way.”

Lawyers also presented a video deposition of Laurel Anderson, a couple’s therapist who worked with Heard and Depp in 2015, when they were ages 29 and 52, respectively.

Anderson said both suffered childhood abuse.

As a couple, they were engaged in “mutual abuse,” she testified. Heard’s father beat her, Anderson said, adding, “It was a point of pride to her if she felt disrespected to initiate a fight.”

Heard would also rather be in a fight with Depp than see him leave, and “would strike him to keep him there,” Anderson said. The therapist recalled a time when Heard told her that Depp “was ‘stepping up,’ as she would say, on a lot of drugs.”

“And she slapped him because he was being incoherent and talking about being with another woman,” Anderson said. She noted that Depp’s mother was in the hospital at the time.

Anderson said Depp told her that Heard “gave as good as she got.” She also said that in at least one session in which she saw Heard alone, the actress told her that Depp hit her. She said Heard showed her bruises, both in photos and in person.

Anderson said Heard also told her that Depp at one point allegedly said, “No one likes you. You’re getting fame from me. I’m falling out of love with you. You’re a whore.” Anderson also said that Heard’s “jackhammer style of talking” and habit of cutting off Depp overwhelmed him.

Heard “wanted to want to divorce” but also didn’t, and was still figuring out what to do, Anderson said.

“She loved him. He loved her. She wasn’t stupid. She knew that what they were doing wasn’t healthy.”

Both Depp and Heard are expected to testify at the trial in Fairfax County Circuit Court, scheduled for six weeks, along with actors Paul Bettany and James Franco and tech entrepreneur Elon Musk. n

FORMER personal assistant to Amber Heard said she never saw the actress suffer any physical abuse at the hands of then-husband Johnny Depp—but she said Heard once spit in her face when she asked for a higher salary. Heard descended into screaming fits of blind rage, sent incoherent text messages at 4 am and was often drunk and high on illegal drugs, Kate James testified in a video deposition that was played in court on Thursday during the trial for Depp’s libel suit against Heard.

Depp, on the other hand, was very calm, almost shy, “like a total Southern gentleman,” James said.

The Pirates of the Caribbean actor has accused Heard of indirectly defaming him in a 2018 opinion piece that she wrote for The Washington Post. Heard refers to herself in the article as a “public figure representing domestic abuse.” The piece doesn’t name Depp. But his attorneys argue that it clearly references a restraining order that Heard sought in May 2016, right after Depp told her he wanted a divorce.

Depp denies abusing Heard, but Heard’s lawyers say evidence will prove that he did. The actor’s denials, they argue, lack credibility because he frequently drank and used drugs to the point of blacking out and failing to remember anything he did.

The video testimony from James offered an inverse view: Depp was the peaceful one, she said, while Heard was frequently intoxicated and verbally abusive, including to her own mother and sister.

“Her poor sister was treated like a dog that you kicked, basically,” James said.

James, who worked for Heard from 2012 to 2015, said she was paid “very poorly.” She said she was hired with an initial salary of $25 an hour and that her duties ranged from picking up Heard’s dry cleaning to talking with the actress’s Hollywood agents.

James said she also was tasked with picking up two copies of any magazine that featured Heard and storing them in the garage to prevent Depp from seeing them. Heard went into a “blind rage” when James failed to place the magazines in the garage, James said. Regarding Heard and Depp’s time together, James said Heard was a “very dramatic person” who was deeply insecure in the relationship.

Heard often called James to cry and complain about Depp, she said.

“I remember one time she called me when she

TAURUS (April 20-May 20): Pay attention, and you’ll gain insight that will help you get ahead. Don’t trust anyone to invest or take care of matters for you. Handle sensitive situations with compassion, but don’t pay for someone’s mistake. Do what’s best for you. HHH

GEMINI (May 21-June 20): Making assumptions will lead to trouble. Get all the details, then proceed with diplomacy. The wrong move can cost you more than you want to give up. Observation and discipline will help you overcome temptation. Don’t risk your health or wealth. HHH

CANCER (June 21-July 22): A demonstrative approach to taking care of business will help you get attention. It will be challenging to please everyone and essential that you target your market carefully. Put your energy where it counts, and make changes based on facts and wisdom. HHH

LEO (July 23-Aug. 22): You’ll be subject to loss if you put your money on the line.

Don’t believe everything you hear or invest in something because of someone else. Protect your money, possessions, health and position. Dedicate your time and effort to self-improvement. HHHHH

VIRGO (Aug. 23-Sept. 22): Battling with someone you love will turn into a no-win situation. Accept the inevitable, and you’ll find a positive way to move forward. Unexpected benefits are heading your way. Be patient and work with what you have; good things will happen. HH

LIBRA (Sept. 23-Oct. 22): Simplify your life.

Concentrate on what matters. Put your energy into self-improvement, raising your qualifications and heading in a direction that makes you feel good about yourself. Avoid joint ventures and following others.

Do your own thing. HHHH

SCORPIO (Oct. 23-Nov. 21): Your gullibility will jeopardize your income or assets. Take control and make decisions that improve your position, not someone else’s. A change will help you gain respect and support. Embark on something that motivates you. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Coast along without letting others infiltrate your space or decisions. Maintain discipline, and avoid overdoing, overspending and overindulgence. Put a strategy in place, and work diligently to achieve your goal. Reset your attitude to focus on moderation and simplicity. HHH

CAPRICORN (Dec. 22-Jan. 19): Don’t let anyone steal your thunder. Call a spade a spade, and stick up for truth, justice and making the world a better place. Be a role model, and you’ll turn heads and make a name for yourself. Do what’s right.

HHH

AQUARIUS (Jan. 20-Feb. 18): Confusion will set in if you let others meddle in your life. Sit tight until you know what you want. A conscious effort to make a positive difference will help you maintain your reputation and ward off negativity.

HHHH

PISCES (Feb. 19-March 20): Put your emotions on the back burner and your energy into doing what you do best. Focus on getting ahead, not going into battle with someone trying to get a rise out of you. Concentrate on self-improvement and personal gain. HH BIRTHDAY BABY: You are outgoing, entertaining and pioneering.

You are sensitive and generous.

‘first child’ BY BETH RUBIN The Universal Crossword/Edited by Amanda Rafkin

ACROSS 1 Invited speaker 6 Observe 11 Ping-Pong table feature 14 Let up 15 Allergy season sound 16 Sense of self 17 Jeri Ryan’s role on Star Trek: Picard 19 Type of nondairy milk 20 Peeling onions, chopping peppers, etc.

21 Medical tube 22 Command-Z, on a Mac 23 Penn of Harold & Kumar movies 25 Breezy 27 Certain evening broadcast 33 Word after “mud” or “water” 35 ___ couture 36 Fifth zodiac sign 37 Pea holders 38 Snowball fight hideouts 39 Large, flat piece of clay 40 Homophone for the letter after q 41 “That’s the answer!”

42 Computer screen lineup

43 46 47 48 50 54 58 59

Parting words on Zoom, maybe Running behind Colorful card game “Don’t go!”

They may be stolen or loaded Snare Brought home the gold 1960-1972 sitcom starring Fred MacMurray, and a hint to the initials of the starred clues’ answers 61 Character’s transformation path 62 Love, at the Louvre 63 Hands, slangily 64 The end of night?

65 Camping structures 66 Beginning phase DOWN 1 Shocked reaction 2 App with driver ratings 3 Roof overhang 4 Certain children in blended families 5 Number of pins toppled in a strike 6 Drift, as an aroma 7 Spots, collectively 8 Like some pizza crust

9 10 11 12 13 18 22 24 26 27 28 29 30 31 32 33 34 38 39 41 42 44 45 48 49

Alternative to glasses Gardening tool Popular highlighter color Old-fashioned “Yikes!”

Pooch in Oz Norwegian Maritime Museum’s city Big coffee dispenser Woodcutting tool, as some spell it Name within “Nairobi, Kenya” Quick look over the shoulder Cheech & ___ Slowly, in music Not just short on Withdraw gradually Weeps Places to be pampered Chicago mayor Lightfoot “I’m cool with that” Moves one’s chair forward Comedy shtick Hampton ___ (hotel chain) Opposing vote Melt together Hit with a paw Ripped

51 52 53 55 56 57 59 60

Lots and lots Closed Drops the ball Becomes a bad apple, say Initial bet in poker (Hey there!)

Yoga surface Punk rock offshoot

Solution to today’s puzzle:

Image BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Wednesday, April 20, 2022

3 Asian skin-care trends that should be on your radar IN the past few years, Asia has become considered as a beauty innovator, offering beauty enthusiasts all over the world with fresh new ways to tackle their skin concerns. This year is no different. Whether you’re a beauty junkie or someone who wants to shake up their skin-care routine and up their image game, here are three Asian beauty trends that can help you achieve that healthy, glowing skin. n MOCHI SKIN. The Japanese refer to nice skin as mochi-hada, or rice-cake skin, a reference to the ultra-soft and plump Japanese dessert. So, mochi skin essentially means having a complexion as supple and smooth as these popular treats. Achieving mochi skin is linked with the Japanese skin-care philosophy of nourishing—thorough gentle cleansing, and multiple hydrating and moisturizing layers.

A go-to face lotion brand in Japan is Hada Labo (www.hadalabo.com.ph), which sells out a bottle every five seconds. Its key ingredient is hyaluronic acid that’s known for retaining water in the skin. The Goku Jyun Hydrating Lotion, Japan’s No. 1 face lotion and the brand’s star product, is infused with four types of hyaluronic acid to fully hydrate skin from the surface to inner skin layers, locking moisture in. There’s also the Goku Jyun Hydrating Light Lotion, which is great for oily or combination skin with its light, non-greasy texture. Both are formulated with Japan’s HighPerformance Penetrating and Deep Moisturizing Technology to get that soft, smooth and supple skin— just like mochi. n KONMARI-ING THE VANITY. World-renowned tidying expert Marie Kondo’s philosophy of only keeping things that spark joy has reached beauty shelves. More and more beauty enthusiasts are now subscribing to skinimalism, paring their skin-care regimen down to the most basic products that their skin needs, or opting for multifunctional ones. This approach discourages piling the skin up with product after product that can aggravate skin concerns or lead to new ones.

Hada Labo believes in the same beauty philosophy with its Perfect X Simple skin-care range, formulated to bring beauty back to the basics. For a complete and effective yet fuss-free skin-care routine, the Goku Jyun Hydrating Lotion is usually paired up with the Hydrating Face Wash, an ultrafine foam that gently washes away impurities without drying or irritating the skin, and the Hydrating Light Cream, a light watery moisturizer that’s meant to lock, replenish and store moisture deep in skin.

All are free of fragrance, mineral oil, alcohol, and colorant that burden the skin. n GEL TEXTURES. Here’s a friendly reminder: overloading the skin with thick products can clog pores and cause breakouts, especially to those with oily and acne-prone skin. That’s why skin-care products in lightweight gel textures are gaining traction, as they moisturize the skin without all the unnecessary grease. Hada Labo’s Goku Jyun Hydrating Water Gel is formulated to quickly absorb into the skin and leave it with a velvety soft finish, thanks to its non-greasy and ultra-lightweight water in gel texture.

PHOTO BY DYLAN GILLIS ON UNSPLASH

Finding opportunities for improvement

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NE of my pet peeves is hearing the phrase “That is how it has always been done,” especially when there are already better ways of going about it. But even if people have heard the phrase “work smarter, not harder” multiple times, some people have a hard time applying it to their work.

Like the time I was reviewing the report of a learning management system administrator who was placed under me. I suggested rearranging the data to make it easier for executives to see the relevant information easier and make decisions faster. He told me, yes, that was how it was always done, and it would take more time for him to prepare. But I insisted and, in the end, the executives appreciated the reports better and my administrator took less time to explain his presentation.

Part of managing people is helping your team develop a mindset of getting their work done in the most efficient and effective manner. And when they cannot do it on their own, it is our role to steer and motivate them in that direction. But before you can do that, you need to ascertain that the change is necessary. There are some processes which do not change for a reason, and there are others that may have been there for too long they have outlived their relevance. You can start with looking at core office processes and see if there are any bottlenecks, and then identify what are causing the delays so you can focus your improvements on them.

Hiring is a common problem in most organizations. In one organization, we discovered

that most people hesitated to apply because of the tests and the numerous paperwork needed to be submitted. To increase the number of applicants, human resources worked with the Information Technology Department to create a chatbot where applicants could be interviewed with standard questions in the chat, schedule and have an online interview, and then submit electronic copies of their requirements all through the chatbot. Problematic areas became opportunities for improving processes and enhancing everybody’s hiring experience.

Another way to identify process improvement efforts is to simply ask your team where processes can be improved. In your regular team meetings, you can ask some of your team members to present process improvement initiatives. This is one way you develop your team’s critical thinking skills, as well as improve their creativity in looking for solutions. You also help them develop a mindset of looking out for what can be improved so they can work smarter, not harder.

Once you have your team’s input, listen also to the voice of the customer. Your customers, whether internal or external, have insights on what you can do to improve your products or services. It goes without saying that external customers significantly affect improvement efforts because they will go to your competitors if you do not listen to what they need or want. For internal customers, ask people you regularly work with to understand how your team’s output is being used by other departments as input to their work. In whatever form you want to do it, ensure there is a feedback mechanism where you can draw information on what can be improved.

It also goes without saying to hire the right people for the work and use the right tools to deliver the best results. Review your office’s core objectives and then identify the manpower and tools requirement so team members can deliver excellent work. Making a list of the ideal qualifications of team members and the best tools available in the market can help you identify what you need to improve. If current team members are not delivering as expected, it would be a good opportunity for you to train them or to take on more responsibilities. If possible, buy the best tools on the

market for your team’s work; if not, learn to maximize your current tools.

Another way to identify opportunities for improvement is to research new developments in your field. You can benchmark with similar organizations and update yourself on new ways of working. Just be careful that when you adapt new processes or tools, you apply change management principles, so the change is assimilated smoothly and effectively.

Sometimes, process improvement ideas come from outside your own field. Improvement opportunities can come from ideas that do not necessarily address a current problem in your own field but improves the way things are done in your office. Your exposure to other groups can provide a different perspective and open your eyes to different ways which could prove beneficial to your own team.

A few weeks ago, I attended a planning session of a group I was not familiar with, but I was sent there to observe and provide input. In previous experiences, planning sessions were siloed and depended on group leaders but when the cluster head took it upon himself to plan the entire session, it became easier for the groups to appreciate their role in the entire cluster and how they contributed to the overall strategy. This gave us the idea to institute the practice for the other cluster heads to follow.

And, lastly, develop a mindset of continuous improvement. Your team needs to regularly ask themselves how they can do their work smarter and better. It can be as simple as asking your team members to arrange their work area so that everything they need is within arm’s reach, or as complicated as plotting problematic tasks and working as a group to improve the workflows. Team members need to agree on the processes and adapt the same as their own.

There are cases when people do not want to change even after pointing out the need to improve. In those cases, you need to be patient and exert your best effort to guide them. If they still do not want to change, then maybe you need to improve your team by getting someone who can actually do the work. n

Seven ways to reduce anxiety through imagination

THE Goku Jyun Hydrating Face Wash and Hydrating Light Lotion

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IMAGINATION can cause or increase anxiety— the feeling of worry, unease or nervousness in anticipation of future events. Fortunately, it can also be utilized in calming negative thought patterns and reclaiming inner peace. A study spearheaded

by Marianne Cumella Reddan and her colleagues from the University of Colorado Boulder Department of Psychology and Neuroscience discovered that deliberate imagination is equally effective as reality to stimulate, regulate and inhibit the brain.

On the other hand, Integrative and Holistic Medicine physician Chris Gilbert, M.D., Ph.D., who specializes in the combination of Western and Eastern Medicine and is known for treating chronic illnesses, anxiety and depression through pioneering methods, has noted down creative techniques that can be used by both adults and children in lowering their anxieties. The Benilde Well-Being Center (BWC) of the De La Salle-College of Saint Benilde, through the observations of Reddan and the findings of Dr. Gilbert, has collectively provided reminders and

released guidelines on how to use the imagination for a healthier and happier life: 1. START WITH THE “BALLOON BREATH” AND THEN IMAGINE A BEAUTIFUL PLACE. Imagine a balloon inside your abdomen a couple of inches below your belly button. Breathe in slowly to the count of three, the balloon expands. Breathe out slowly and the balloon deflates. Within three to ten breaths, you will likely find yourself calmer.

Once relaxed, visualize a beautiful place that you would love to be in. It may be somewhere you have been in the past, or a spot you wish to visit. What sounds can you hear? What can you smell? Bask in this scene and you will be amazed by how fast you calm down.

2. VISUALIZE A PROTECTIVE ANIMAL, PERSON, OR WIZARD. You may envision more than one. What do they look like? What gifts do they offer to help you with your challenges?

3. IMAGINE A COLOR. Think of a color that you love and de-stresses you. Now envisage that you are

surrounded by it. Breathe in and out deeply while immersing in it.

4. CONSIDER BODY MOVEMENT. What is that dance or movement that relaxes you? Imagine and explore the different motions and experience which one works best to decrease your anxiety.

5. TAP INTO MUSIC. Play the protective song or tempo that you love. Use your voice or any accessible musical instrument to explore the different rhythms.

6. TRY DRAWING OR PAINTING. Draw that beautiful place you would love to be in. Include the imaginary person or fantastic animals and wizards who wish to protect you. Paint it with the colors that you love. If unable to draw, you may utilize colors to symbolize them.

7. ENVISION YOUR FANTASY SCENARIO. If anything were possible, what would you wish to happen?

Imagine the details of your fantasy scenario as if it were happening right now. Take the time to bathe in it. Visualizing makes the impossible possible in your brain and it will help reclaim your peace.

B6 Wednesday, April 20, 2022

Security Bank supports BIR’s P250-B April target collection, calls on businesses to settle ITR dues early

Malyn Molina is EON Group’s new President and COO effective April 2022

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HE EON Group sets its sights on a stronger, more vigorous presence in the regional communications industry with the return of Malyn Molina as its new President and Chief Operating Officer effective April 2022.

Malyn assumes her new position following a five-year stint as Chief Operations Officer of Edelman Vietnam, in which capacity she doubled the company’s retainer business and spearheaded its growth towards becoming one of the best performing markets in APAC with an impressive base of key clients. Largely as a result of her dynamic and tenacious leadership, Edelman Vietnam was able to protect its business through the harshest periods of the global pandemic and received Campaign Asia’s PR Agency of the Year Award in 2021.

Prior to this, Malyn has held senior leadership positions at EON from 2009 to 2016, capped by her previous role as Managing Director of Engage, the company’s reputation management, public affairs, and government relations arm.

“We are very happy to welcome back Molina. Under her watch, we anticipate a unique brand of leadership that will seek creative pathways for navigating the emerging challenges of doing business in

the new normal, while at the same time continuing to uphold EON’s 24-year legacy of excellence in building trust,” says EON Chief Executive Junie del Mundo.

A consummate and multifaceted communications professional, Malyn brings with her over 20 years of expertise in corporate reputation and brand management, public affairs and government relations, and risk mitigation and crisis management.

Likewise, she has also built considerable experience in specialized services such as capacity building, advocacy and grassroots outreach, and developmental communications, which have been greatly leveraged to develop multi-stakeholder campaigns for clients in the food, technology, and heavy industry sectors.

Stepping into her latest post, Malyn is very clear about the brand of leadership that is required during these extraordinary times. “The way we do business is still evolving and this calls for steel-clad resolve, for grit and resilience that’s driven by purpose, for action-oriented decisions that are anchored on compassion,” she states.

She is also keen on seeing EON develop into a more powerful and influential platform for showcasing economic and social opportunities in the Philippines

S

ECURITY Bank supports the goal of the Bureau of Internal Revenue (BIR) to collect more than P250 billion in taxes in April, citing that taxes are crucial in keeping both the government and the economy going.

BIR Commissioner Cesar Dulay tasked the BIR to collect P256.9 billion for this month. The agency is targeting to collect P2.44 trillion in taxes for 2022.

“We have a responsibility in settling our dues to the government, especially that the nation is highly dependent on them for economic recovery, financial assistance, and for combating the COVID-19 pandemic,” said John Cary Ong, Security Bank’s Head of Transaction Banking and Channels Network Group.

For its part, Security Bank remitted over P149 billion to the BIR in 2021 through its

DigiBanker Cash Management service.

DigiBanker enables medium to large businesses to make frictionless and convenient online tax payments. Security Bank recommends users to pay taxes at the comfort of their homes or offices through the DigiBanker online platform.

“Security Bank’s DigiBanker is a multiawarded cash management and payments platform being used by enterprises. It handles collections, fund transfers, vendor payments, and even eGov remittances, among others.

For this ITR deadline, we encourage our partners to settle their payments early to avoid inconvenience,” added Mr. Ong. To know more about Security Bank’s products and services, visit www.securitybank. com/business or visit Security Bank’s Facebook page at www.facebook.com/SecurityBank.

Thai Vietjet opens new international direct routes MALYN Molina during this critical period.

“I see the future of Philippine companies and brands as central to the growth of the Asia Pacific region,” she says. “With EON’s expertise in public relations, reputation management, digital communications, and experiential marketing, I am very excited to lead the company into its next stage of growth and expansion as builders of trust in the communications industry, regionally and globally.”

T

O further enhance Thai Vietjet’s regional connectivity, Thai Vietjet, a leading Thai low-cost airline based in Bangkok Suvarnabhumi Airport, is pleased to announce the launch of new international direct services from Singapore to Thailand’s capital city of Bangkok, from 28 April 2022, and from Singapore and Phuket from 2 June 2022.

“We are thrilled to connect Thailand and Singapore through direct flights that will provide more leisure and business accessibility and opportunities for the citizens of both countries. After a long period of disruption due to the pandemic, the services connecting Thailand and Singapore will play a critical role in assisting the two nations’ economic recovery while also serving the growing travel demand of individuals in the

region,” says Woranate Laprabang, Chief Executive Officer of Thai Vietjet.

These recent developments come just in time as travel restrictions for international travellers to Thailand are lifted. Travellers entering Thailand will only be required to purchase COVID-19 insurance with a coverage of USD 20,000 (previously USD 50,000).

PhilHealth’s employer remittance app feted

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ATLANTA LAND SIGNS MOA WITH NHMFC. Atlanta Land adds National Housing Mortgage Financing Corp. (NHMFC) as an additional housing loan option. With this Memorandum of Agreement signed, homebuyers of The Grand Victoria Estates in Cabanatuan, Nueva Ecija can easily apply for a home loan at a low fixed rate with up to 30 years to pay, and with no membership needed. Developer Atlanta Land aims to help close the affordable housing gap in the country by providing good value homes for Filipinos. From L to R: Maria Luisa Favila, Vice President for Securitization-NHMFC; Carlo Luis Rabat, President-NHMFC; Cristine O. Chan, Chief Operating Officer-Atlanta Land; Jennifer Cochon, Sales Director, The Grand Victoria Estates of Atlanta Land

Home Credit joins business coalitions for gender equality to drive greater diversity, inclusion

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OME Credit Philippines (HCPH), the country’s leading consumer finance company, has recently joined the Philippine Business Coalition for Women Empowerment (PBCWE) and the Philippine LGBT Chamber of Commerce (PLCC) to further cement its commitment to achieving gender equality and inclusion in the workplace.

“We at Home Credit celebrate all facets of diversity. Our global commitment to promoting equality and inclusion among our employees is present in all markets where Home Credit is operating. We found beauty by

being represented by a diverse roster of talents and recognizing each individual regardless of their nationality, origin, orientation, identity, etc. We want to make Home Credit a safe place – a home that embraces diversity and inclusion for our employees,” shares Home Credit International CPO Renata Mrazova.

The partnership will help HCPH engage in policy reform work for gender equality and explore initiatives that will promote diversity, respect, fairness, empowerment, and equality in the workplace. Both organizations are also set to put structure to the DEI efforts

THE SIGNING CEREMONY WAS ATTENDED BY, FROM LEFT: HCPH Head of PR Ken Lerona, PLCC Project Manager Ezra Nacianceno, Chairperson Raymond Astillas, HCPH CPO Alpha Omega Aquino, HC Group CPO Renata Mrazova, PBCWE Executive Director Julia Abad, Partnerships Manager Ana Bobadilla, Marketing Manager Jelo Reyes, HCPH People Partner Nina Patricia Dacanay.

of HCPH and create diverse and systematic initiatives for its employees.

“We are happy to join PBCWE and PLCC in sealing our promise to gender equality and inclusion at HCPH. We take pride in this milestone as this signifies our commitment to creating programs that give our employees equal rights and opportunities in the workplace. We are confident that through this partnership, we will create a safer and healthier environment for all our employees in the company,” shares HCPH's CPO Alpha Omega Aquino.

HCPH's top management and leaders will also attend a highlevel executive course about Sexual Orientation, Gender Identity, and Expression (SOGIE). This training will show the leaders how they play a vital role in championing equality within the company and inculcate gender awareness and sensitivity from top to bottom of the organization.

Home Credit Philippines goes beyond just gender, nationality, culture, and background. The company is committed to building an inclusive community that provides equal opportunities to every individual in the workplace.

To stay updated, visit thebofficial website www.homecredit.ph.

Follow the brand on its official Facebook, Instagram and TikTok accounts. Check the newest details and promos through the Home Credit App.

HE Philippine Health Insurance Corporation (PhilHealth) was recently awarded a Certificate of Merit by the International Social Security Association for its Electronic Premium Remittance System (EPRS) during its Virtual Social Security Forum for Asia and the Pacific 2022 held in February this year in Geneva, Switzerland.

The PhilHealth EPRS was cited for “Pioneering digital transformation in premium contribution” in the ISSA Good Practice Awards Asia and the Pacific Competition 2021 which received a total of 168 entries from 30 social security organizations in 19 countries from the region.

The EPRS is a web-based application made available to government and private sector employers to enable the remittance and reporting of PhilHealth contributions of their employers easier and convenient. Through the said system, employers can update their employee lists and their corresponding monthly salaries, generate monthly billing statements called Statement of Premium Account or SPA, and even pay online. To date, Bank of the Philippine Islands, Land Bank of the Philippines, Security Bank, Union Bank and BancNet member banks are among the participating collecting agents where employers can make their remittances at the comfort of their offices and even their homes.

In a related development, the ISSA in its publication entitled Priorities for

Social Security Trends 2022: Challenges and Solutions, the EPRS was recognized, saying that “The Philippine Health Insurance Corporation (PhilHealth) is taking steps towards digitalization through an Electronic Premium Remittance System (EPRS) to eliminate manual submissions of contribution-related transactions, minimize fraud and reconciliation issues, and save time and other resources that are otherwise necessary for manual submission”.

PhilHealth said that this is further validation of the usefulness and advantages of the EPRS to the employers in keeping their employee lists updated through its facility to report newly-hired and resigned employees, declaration of correct monthly salaries for the accurate computation of contributions, among others. The EPRS also enable employers and those tasked to manage PhilHealth remittances to veer away from the tedious manual processing as well as from various health risks posed by the current pandemic.

The EPRS was also instrumental in the country’s bid to reduce regulatory complexity and cost when the Philippines was recognized for introducing “online-filing and payment of health contributions” in the World Bank 2017 Doing Business Report.

PhilHealth continues to encourage employers with more than ten employees to avail of the EPRS to enjoy greater efficiency, convenience and safety it offers.

Go Negosyo brings back face-to-face mentoring

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ENTOR Me On Wheels, Go Negosyo’s popular one-on-one mentoring program for aspiring and existing entrepreneurs has returned this April at the Ayala Malls Manila Bay in Parañaque City, Metro Manila. Over a thousand small entrepreneurs are expected to avail of the free one-on-one mentoring with experienced business owners and industry leaders, and go home with cash prizes to invest in their small businesses.

“Throughout the pandemic, we continued to mentor Filipino entrepreneurs through our programs. With the return of Mentor Me On Wheels, we express our confidence that the country will not only bounce back from the pandemic, but that it will thrive and prosper through entrepreneurship,” said Presidential Adviser on Entrepreneurship and Go Negosyo founder Joey Concepcion.

Mentor Me On Wheels aims to bring business mentorship closer to small business owners, equipping them with the technical and practical know-how on entrepreneurship in a setting that is accessible and convenient for them. During the event, the menteeparticipants sit down with a mentor for a one-on-one mentoring session; the mentees

can consult with the mentors and get their expert views and best practices in running a business. Additional materials and modules on entrepreneurial mind-setting and marketing will be available to provide supplemental knowledge on managing micro and small businesses.

Facilitating the mentoring are more than 130 mentors who will be sharing their knowledge and experience with small entrepreneurs during 30-minute sessions.

The mentors include prominent businessmen from different industries, such as Bernie Liu of Penshoppe, Pepot Miñana of Jollibee Foods Corporation, George Royeca of Angkas, Nigel Lockett of DHL Philippines, Enrico Dee of Foodie Global Concepts, Alfredo Pascual of the Management Association of the Philippines, Tommanny Tan of iFern Corporation, Eric Teng of Resto PH, Yvette Orbeta of Wendy’s, Johnlu Koa of The French Baker, David Charlton of David’s Salon, and many more. Concepcion will also participate as one of the mentors.

For more information, call 8637 9347 or visit www.fb.com/GoNegosyoOfficial for more updates.

BusinessMirror

Editor: Tet Andolong

Wednesday, April 20, 2022 B7

Office landlords responding

to business requirements I

By Rizal Raoul S. Reyes

n its latest property market briefing poll, Colliers Philippines said that property developers and investors are aggressively and proactively looking for opportunities especially now that the Philippine economy is reopening.

“In our poll, 67 percent of respondents said that their employers are already executing back-tooffice plans, which in our opinion should support office leasing recovery beyond 2022,” Colliers said.

Moreover, Colliers recommends that tenants renovate their offices to support their back-to-office and hybrid plans.

Colliers also urged collaboration between government agencies and the private sector in keeping workplaces safe is crucial in ensuring business continuity.

Responding to the needs of the BPO industry In response to the continued demand from the business-process outsourcing (BPO) industry, Araneta City has added an office district to its original lifestyle, entertainment and residential sections.

One of the attractions of Araneta City is its strategic access to multimodal transport cities.

John Castelo, senior vice president for business development

Araneta City’s Cyberpark complex will give rise to five towers with a combined floor area of over 500,000-square-meters.

of the Araneta group told the BusinessMirror in an e-mail interview that the Araneta City Cyberpark, an office superblock with state-of-the-art business facilities and a retail podium to give workers proximate dining and shopping options. Cyberpark, features a convergence of green public spaces and private workplaces.

Castelo said the Cyberpark complex will give rise to five towers with a combined floor area of over 500,000 square meters. The completed Cyberpark 1 and Cyberpark 2 now house major companies and some of the biggest names in the BPO space. Completion of Cyberpark 3 is expected in 2024.

Other options for office spaces are the Gateway Tower and Aurora Tower, both of which are conveniently linked to MRT3 and LRT2 lines and public transport along

Edsa, Aurora Boulevard, and P. Tuazon Avenue.

“We offer these property developments to companies and locators who are looking at having a better atmosphere for business growth. They are part of a masterplanned community that caters to all aspects of living and supports a live-work-play mantra,” Castelo said.

In addition, Castelo pointed out companies will be provided with world-class business Internet user experience through InfiniVAN, which deploys an ultra-speed fiber-optic network infrastructure in Araneta City to provide up to 5G wireless Internet connectivity.

Great place for work-life balance In response to the new normal caused by the global pandemic, the

Parkway Corporate Center is strategically nested in Filinvest City, a garden and future-ready central business district.

Gotianun-controlled Filinvest Alabang Inc. is positioning Filinvest City as a go-to-place for businesses that are looking for locations that offer a great work-life balance.

“Filinvest Alabang Inc. has always been forward-thinkers. This mindset has allowed us to quickly adapt to the current normal, allowing us to offer a host of properties that cater to the varying needs of our market. It’s no different for Parkway, which has different units that can be customized to fit the vision of companies as they upgrade their business in the new normal,” Daphne Sanchez, first vice president, Filinvest Alabang Inc. told the BusinessMirror in an e-mail interview.

With landscaped path walks and bike lanes, Sanchez believes the location of Filinvest City is a central business district that

promotes good worklife balance.

Being in a live-work-play CBD, Sanchez added Parkway lessens the carbon footprint as employees don’t need to travel far because lifestyle and essential establishments are in close proximity.

Sanchez says Parkway sets the corporate tone within the city as it is specifically located at the exit of Slex coming into Filinvest City’s economic core, the Spectrum District. With the Skyway, Filinvest City is also just 30 minutes away from the international airport, further making Parkway an ideal spot for every local or multinational business. Likewise, commuters can access Parkway as it is just across Festival Mall in Filinvest City, which offers transportation to Northern and Southern cities.

A s a Leading in Engineer-

ing and Environmental Design (LEED) Certified development, Sanchez says Parkway promotes an eco-friendly, clean environment that encourages a sustainable lifestyle for its tenants. She adds that Parkway’s glass curtain wall is also double-glazed with a low e-coating to prevent heat and UV radiation.

By locating to Parkway, Sanchez says a company does not only acquire a prestigious address as it also gives the locator an opportunity to appreciate the building’s green features and the modern look and design that will surely give a premium to the business.

“The fine aesthetics of Parkway exudes a credible and world-class office look providing a prestigious office building you can be proud to call your address,” says Sanchez.

Zadia: Nature-inspired condo living in Sta. Rosa, Laguna B

By Roderick L. Abad

U Y ING appetites of the property market in areas outside of Metro Manila seemed not affected by the ensuing Covid-19 crisis with the constant rise of the middle-class population and the continued remittance flow of overseas Filipino workers (OFWs).

Per data of Colliers last year, the heightened vaccination coverage in the country complemented by strong consumer and business confidence also led to a boost in the real-estate industry, which is seen to continue this year. In fact, it is expected that 9,700 residential units will be developed in 2022, up 18 percent from 8,200 units in 2021.

Always ready for any increasing demand for residential properties, Greenfield Development Corp.’s (GDC) unit recently topped off its second tower in Greenfield City in Sta. Rosa City, Laguna. The Tower 2 of Zadia by Equus Property Venture Inc. is set to replicate the success of its first building.

Five-tower residential complex Zadia is a breath of fresh air in condominium living. It’s filled with lush foliage and verdant

sights. The 3.6-hectare mid-rise condo complex boasts of vertical greeneries called Green Walls and modern amenities including a centralized clubhouse, a community pool, and spacious multipurpose courts.

“We remain committed to our philosophy of creating a ‘greenspiration’ idea of condo living behind Zadia along with our other properties. We want to provide a home where residents can enjoy an abundance of green open spaces and the intricate beauty of nature to facilitate wellness and relaxation so they can live and thrive in an inspiring, sprawling sanctuary,” said Atty. Duane Alexander Xavier Santos, executive vice president and general manager of GDC. Upon completion of its first tower last year, Zadia has witnessed fast uptakes of its units.

The same has been experienced in the second tower during its preselling phase. To date, only a few units here is available. Prospective buyers usually purchase units in this condo project to serve as their second home with the intention of making it their “halfway home.”

Per Atty. Santos, the completion of the Cavite-Laguna Expressway (CALAX), makes traveling to and from Greenfield City to Metro

GREENFIELD Development Corp.’s Zadia, a “greenspired” home within the heart of Greenfield City.

Manila faster and comfortable travel for Zadia residents via the Greenfield City exit, with travel time from South Luzon Expressway to CALAX reduced from 90 to 45 minutes. With the opening of the CALAX Subsection 5 from Silang East Interchange to Sta. Rosa-Tagaytay, residents can now travel to Tagaytay and other areas of leisure with ease and less traffic congestion.

With Zadia’s strategic location,

high-class amenities and efficiently-designed units, home seekers also consider their purchased unit as a potential investment. It’s “greenspiration” idea, likewise, has helped to continued strong sales since its launch.

According to the latest local edition of Santos Knight Frank’s Global Buyer Survey, 41 percent of Filipinos looking for second homes are keen on properties with “greener” or energy-efficient features.

Likewise, it revealed that these buyers consider second homes not just an investment but also as private destinations and accessible vacation homes.

For GDC, building lasting, future-proof, mixed-use communities has always been at the core of its business even before sustainability has entered the mainstream. Since its inception, the property developer has followed its mantra of “Building for Genera-

tions,” creating structurally sound homes for the residents with positive regard for the environment it is surrounded by. No wonder why Zadia remains a valuable choice for a second home.

“In the past two years, the demand for condominiums was reduced while land and houses increased. This was probably due to people feeling cramped in a typical city condo. Surprisingly, Zadia sales were not as affected and we see this as a case where our buyers see the value of the generous open spaces being offered by Zadia,” said Atty. Santos.

The continued success of this project and other properties under GDC will help the country to recover and steer the economic trajectory in Metro Manila amid the new normal.

“As real estate becomes a more secure investment in the country, we expect that more people are eyeing to invest in condominiums due to convenience and potential price appreciation. We at Greenfield Development Corp. will continue building and providing homes that will serve as a welcoming haven for its residents and up the standards of condo living. These are all fundamental blocks to boost our economic disposition,” Atty. Santos said.

Sports

Gialon holds sway for 1-shot lead; Monsalve sizzles with 1st-round 69

BusinessMirror

B8

| Wednesday, April 20, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

MONSALVE IN COMMAND WITH 69

GINEBRA GOES FOR THE KILL

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ARANGAY Ginebra San Miguel goes for the kill against Meralco in Game 6 on Wednesday with the Gin Kings targeting a second straight Philippine Basketball Association (PBA) Governors’ Cup crown at Smart Araneta Coliseum.

An Ginebra victory in the 6 p.m. game will wrap up the best-ofseven series at 4-2 for the Gin Kings who would be nailing their fourth Governors’ Cup victory and 14th title overall in the league.

But Ginebra coach Tim Cone, who himself is staring at a league-best 24th PBA title in 36 championship appearances, remained cautious of a major Meralco fightback.

“When I look at it, it seems close, but it’s still very, very far away,” Cone said. “We were in this situation before where they forced a Game 7.”

Ginebra was on the brink of ruling the 2017 Govenors’ Cup Finals in six games but Meralco was all fumes

and sent the series to the limit. The Gin Kings eventually clinched the crown in front of 54,048 fans at the Philippine Arena in Bocaue, Bulacan.

“We know that trying to beat a good team three times in a row is nearly impossible,” he said. “We’re going to try our best to stay focused and be ready for Game 6.”

Best Import Justin Brownlee, who is coming off 40 points and 11 rebounds in Game 5, is expected to step up with Best Player of the Conference Scottie Thompson and Christian Standhardinger.

Ginebra bagged Game 4, 94-85, last Wednesday and Game 5, 115-110, last Sunday to lead the series.

Despite Meralco’s leech-like defense, Brownlee has been putting up big numbers of 29.8 points, 12.6 rebounds and 6.6 assists in five games of the championship series.

Meralco coach Norman Black and the defiant Bolts are hoping to extend the series to keep their hopes alive of

ZANIEBOY GIALON is seeking to snap out of a long title spell in the circuit. NONIE REYES

winning its first PBA title.

“It’s simply a do-or-die for us. We must be at our best on offense and defense because Ginebra is playing at a very high level,” Black said. “They only have three wins. [If] we win this game, we tie the series so that’s what we’re focused on right now.”

“We will give it our best shot to tie the series,” the Bolts’ center Raymond Almazan said.

Import Tony Bishop is expected to work double time in Game 6 after scoring 30 points and grabbing 15 rebounds in Game 5.

Allein Maliksi also needs to regain his touch after scoring only three points in Game 4 and 12 points in Game 5.

Josef Ramos

Z

ANIEBOY GIALON outplayed Clyde Mondilla with an early birdie blitz then held sway at the back to fire a 67 for a one-stroke lead over Joenard Rates at the start of the International Container Terminal Services Inc. (ICTSI) Caliraya Springs Championship in Cavinti, Laguna, on Tuesday.

Only 12 players produced underpar rounds in preferred lies at the Caliraya Springs Golf Club course hosting the Philippine Golf Tour (PGT) and the Ladies PGT for the first time and the 78-player starting field, including 19 in the distaff side, all reveled at the challenge that the Arnold Palmer-designed had presented in the early going of the four-day invitational PGT and the 54hole LPGT championship.

“The course is good, this being the first time that it is hosting the PGT. It has a good setup, good greens and good weather,” said Gialon, seeking to snap out of a long title spell in the circuit organized by Pilipinas Golf Tournaments Inc. More importantly, he had a good, solid start.

The 2017 ICTSI Calatagan winner birdied four of the first six holes inside 12 feet then bucked a two-bogey mishap at the back, including on the par-4 17th after overshooting the green, with three birdies to upstage the more fancied Mondilla, a playoff loser to absentee Miguel Tabuena at the ICTSI Luisita Championsip in Tarlac last month.

The 32-year-old Davaoeño, whose campaign is backed by businessman Carlo Quimson and Coast Guard Admiral Roy Echeverria, used just 24 putts to highlight his 32-35 round and fuel his title drive in the P2 million championship sponsored by ICTSI.

GINEBRA import Justin Brownlee takes advantage of a mismatch with Meralco’s Aaron Black from the three-point area in Game 5.

HIDILYN’S EYES ON PARIS 2024 H

By Josef Ramos

IDILYN DIAZ will defend her weightlifting gold medal at the Southeast Asian Games’ 31st edition that Vietnam is hosting next month.

But the SEA Games are just a springboard to a much bigger goal for the country’s first Olympic gold medalist.

Diaz confirmed to BusinessMirror on Tuesday—rather indirectly— that targeting a second Olympic gold medal in Paris 2024 is a go.

“My determination to compete at the highest level is always there,” Diaz, 31, said. “But it takes a lot of

time to build myself again up to the Paris Olympics.”

The Vietnam SEA Games are the first of six qualifying events to make the grade for the Paris 2024 weightlifting competitions. And just by connecting the dots, Diaz’s paving her path to France.

“My preparations are doing very well although it’s quite difficult to be consistent as I regain my old competitive form,” she said. “It’s not easy, it’s quite hard to come back but we’ll get there.”

For Diaz, “we” now means she and Julius Naranjo, now her full-time coach and strength and conditioning expert and on a romantic note, her fiancé.

She’s been training seriously under Naranjo since late last year.

They do the rounds in their homes in Tagaytay City and Eastwood City and in Jala-Jala, Rizal.

Diaz will lead a 13-member Philippine weightlifting team in the SEA Games with Samahang Weightlifting ng Pilipinas President Monico Puentevella predicting the

athletes to win a minimum of two and a maximum of five gold medals in Hanoi.

The 31-year-old Diaz is going to defend her gold in the women’s 55 kg class, and is considered by Puentevella as the top bet of the Filipino weightlifters aiming to surpass the two gold medals they won during the 2019 edition of the biennial showcase here in the country.

Puentevella told the virtual Philippine Sportswriters Association Forum also on Tuesday that the SWP hopes to improve on the two gold medals Diaz and Kristel Macrohon won and the three silvers and two bronze medals that were also reaped from the 2019 Philippines SEA Games Joining Diaz (55 kgs) on the women’s team are Mary Flor Diaz (45 kgs), Rosegie Ramos (49 kgs), Margaret Colonia (59 kgs), Elreen Ann Ando (64 kgs), Vanessa Sarno (71 kgs) and Macrohon (+71 kgs).

Olympian Nestor Colonia (67 kg), meanwhile, leads the men’s team of six with Fernando Agad Jr. (55 kgs), Rowel Garcia (61 kgs), Lemon Denmark Tarro (73 kgs), John Paul Padullo (89 kgs), and John Dexter Tabique (+89 kgs).

The SEA Games open on May 12 with the weightlifting competitions set from May 19 to 22 at the Hanoi Sports Training Center.

Winston powers DLSU past UST

S

CHONNY WINSTON put on a show to lead De La Salle University’s 29-point thumping of University of Santo Tomas (UST), 112-83, in University Athletic Association of the Philippines Season 84 men’s basketball action on Tuesday at the Mall of Asia Arena in Pasay City.

Winston, playing out of Division I school Central Michigan University, exploded for 33 points on 14 of 19 shooting to help lift the Green Archers to a 6-3 won-lost record for the third spot while sending the Growling Tigers

to their sixth loss in nine games in a tie with the Far Eastern University Tamaraws at fifth place.

Justine Baltazar also rose to the call for De La Salle with 17 points, seven rebounds, seven assists, two steals and a block, while Evan Nelle made was 5 of 5 for 16 points with six assists.

“It was a total team effort for us today” La Salle coach said Derrick Pumaren. “We were able to execute.

Deschon [Winston] really shot well today. The only guy who was able to stop him was me because I took him out.”

MARVI MONSALVE sizzled with a three-under 69 this time, finding herself a bewildered leader on Tuesday.

Monsalve used a nearimpeccable iron game to shoot four birdies against a bogey and come out of a windy day in command by two strokes over Chanelle Avaricio, who turned in a twobirdie, one-bogey 71 card two weeks after besting multi-titled Princess Superal in sudden death in the inaugural ICTSI Hallow Ridge Challenge in San Pedro, Laguna.

“I played it simple, hit a lot of greens but missed a lot of putts.

But I was able to drop some,” said Monsalve, who tied for eighth at Luisita and limped to 12th place at Hallow Ridge, also a first-time venue host like Caliraya of the Ladies Philippine Golf Tour.

“Actually, I didn’t expect much since I hardly had a practice round heading to this tournament. But I committed to my target and just played my game,” added Monsalve, who set her bid in motion with back-to-back birdies from No. 5 that negated a miscue on the fourth then capped her fine start with birdies on Nos. 15 and 17.

Avaricio rued a couple of missed chances on the unpredictable surface but expressed hopes of a better showing in the last two rounds of the 54-hole championship for a crack at a back-to-back title romp.

“I had a couple of birdie putts but they didn’t go in. Still having a hard time reading the greens,” said Avaricio. “Hopefully, I can improve on that tomorrow (today) with emphasis on ball placing and putting.”

Chihiro Ikeda, a multi-titled campaigner out to break a long title drought, hit just one birdie against two bogeys but her 73 put her at third, four strokes behind Monsalve, even as Riviera-Langer leg winner Daniella Uy carded a 74 and amateur Arnie Taguines shot a 75 to stay in early contention in the third leg of an 11-stage circuit put up by ICTSI. Reigning Order of Merit winner Harmie Constantino continued to grope for form as she hobbled with a 76, Gretchen Villacencio turned in a 78 and Kristine Fleetwod and Florence Bisera matched 79s for joint eighth with amateur Eagle Ace Superal.

Last year’s Midlands leg champion Sunshine Baraquiel also wavered with an 81 in a tie with former leg winner Sarah Ababa as they stood behind Pamela Mariano, who carded an 80.

Winston, a 6-foot-4 guard, unloaded 19 points in the third quarter where the Green Archers pulled away to an 86-61 lead they never relinquished.

Michael Phillips added 15 points and nine rebounds and Kurt Lojera had 10 points for De La Salle, which missed senior Joaqui Manuel who served a onegame suspension for his unsportsmanlike foul criteria 2 on Ateneo’s Angelo Kouame in their last encounter.

Paul Manalang led UST with 14 points all of which he made in the first half. Bryan Santos returned from suspension with 13 points and seven rebounds and Sherwin Concepcion got 12 points.

Lacap helps key Cardinals’ rout of Benilde cagers

M HIDILYN DIAZ gets specific training instructions from Julius Naranjo.

Judgment day for Meralco FOR Meralco, it is survival on Wednesday (that’s today), but for Barangay Ginebra San Miguel coronation.

The test of strength is at its toughest for one perilously dangling at cliff’s edge—as in Meralco’s case of being a

APUA pulled away in the second quarter to beat College of Saint Benilde, 84-65, and seize solo third place in the National Collegiate Athletic Association seniors basketball tournament on Tuesday at the La Salle Greenhills Gym. Brian Lacap, making his second straight start after the Cardinals lost two in a row, scored a game-high 22 points on

game away from extinction.

One misstep, goodbye.

One loose grip, the end.

It is an eerie feeling. Surreal.

Meralco is like the woe-bitten accused being led to a courtroom one final time to hear of the sentencing. Its final play will decide everything, as in the judge/jury ending up either convinced or not to the lawyer’s perorations. Death or acquittal?

Ginebra actually plays the brutal part as both judge and executioner. As the menacing owner of a 3-2 lead, it can end it all with a victory over Meralco today for a winning 4-2 finish in the Philippine Basketball Association (PBA) Governors’ Cup at the Smart Araneta Coliseum.

Unless fate intervenes, unless the gods of the game balk, I see no reason why Ginebra couldn’t finish the job.

The Gin Kings lost Game One but got back just as fast by winning Game Two. The Bolts made it 2-1 after a Game Three victory but then, the Gin Kings again equalized just as fast with a

8 of 13 shooting to go with four rebounds, four steals and two assists.

“Actually, there’s pressure,” said Lacap, who also started in Mapua’s 95-83 victory over University of Perpetual Help System Dalta before the Lenten break.

The victory, the fifth in seven games, gave the Cardinals some hope to secure one of the two outright Final Four berths.

Mapua trails joint first placers Letran and San Beda by a full game.

The Blazers, who have lost two straight, dropped to fourth spot with a 4-3 card.

The Cardinals also drew huge games from Paolo Hernandez and Rence Nocum. Hernandez finished with 17 points, seven rebounds, two steals and two assists while Nocum

Game Four triumph.

The sequence of events in all the first four games were virtual refrains, especially to Ginebra, whose regular winning performers were import Justin Brownlee, Scottie Thompson, Jeff Chan, LA Tenorio, Arvin Tolentino, the not-yet-100 percent Japeth Aguilar and, yes, Christian Standhardinger. OK, include Nards Pinto, whose sniping had helped a bit when the going got rough for Ginebra.

But Meralco was almost inconsistent with its mainstays, including its import Tony Bishop, who would only start to fire live bullets towards mostly the end of the game.

And while Bolts Chris Newsome and Aaron Black were sure steadies almost all of the time, not Allein Maliksi, the supposed sharpshooter even from afar. Maliksi even laid a big fat egg in the Game Two loss for Meralco.

Ginebra’s 115-110 Game Five win on Easter Sunday unmasked more leaks in Meralco’s usually brick wall defense. With its defenses caught napping several times, Ginebra pounced on them through triples that repeatedly

contributed 14 points.

Lacap’s three-pointer at the 5:59 mark of the second period capped Mapua’s 15-0 run that shattered a 1919 tie at the end of the first quarter.

tore the nets through Brownlee, Tolentino, Thompson, Chan and Tenorio. Standhardinger had back-to-back perimeter jumpers on open looks that fuelled a breakaway from which the Gin Kings never looked back.

Meralco must rebuild its famed Fort Bonifacio defenses or the unfurling of victory banners, releasing of balloons and dropping of confetti for Ginebra will definitely happen tonight.

For sure, acquittal is almost ancient to the one not armed to the teeth.

THAT’S IT Warm birthday greetings to Dakila Francesco M. Sadiwa (19 April). Nicknamed Ilak, I call him “Ikap” because when I asked him what his name is when he was about a year and a half, his answer was, “Ikap.” Ikap is a God-given gift through St. Papa Pio as Ikap was conceived after Ikap’s mother had fervently prayed for St. Papa Pio to give her a boy as a second child after the birth of Malaya Sol. The man in the mirror today is filled with divine joy to greet Ikap—his birth mate—happy birthday!